Firm Stainless Sheet Price in Tokyo

Stainless steel sheet price is firm both for nickel and chrome series stainless items around Tokyo under firm demand in the active season. The price is 440,000-450,000 yen per tonne for SUS304 and 210,000 yen for SUS430. The chrome series stainless demand is firm for automobile while the nickel series demand is firm for chemical machinery and food processing equipments. Japanese makers’ order receipt increased for those items from previous year level, according to Japan Stainless Steel Association. Nickel price increased to US$ 15.2 per pound at London Metal Exchange on Friday, which was around US$ 1.5 higher than averaged level in September. With the level, Japanese makers must increase the selling price of nickel series stainless products. The distributors have trouble to pass the higher cost price on the reselling price when the makers increase the price every month. Especially, smaller sized distributors are cautious on the potential uncollectible receivable. They try to keep the inventory low level when the stainless steel price is approaching to 500,000 yen per tonne. They are suffered from higher cost price for nickel series products though they enjoyed gain from inventory valuation in the first half of the year. The lower inventory also contributes to the tight supply.