Stainless Steel Plate Price Keeps Strong in Tokyo

Nickel series stainless plate steel price is strong in Tokyo at 430,000 yen per tonne for SUS304 hot cut sheet with 3-6 millimeters thick and 540,000 yen per tonne for plate mill products with 7-14 mm thick.Japanese makers’ selling price continues rising since the beginning of this year under the worldwide supply tightness due to higher capital expenditure by private sectors. The demand is strong for petrochemical plant and LNG tanker at overseas and for semiconductor manufacturing equipment and liquid crystal television in Japan. Delivery lead time becomes longer from makers and there is stock out in some sizes at dealers. Japanese stainless steel makers such as Nippon Steel & Sumikin Stainless Steel Corporation cannot meet the demand despite of full operation.Monthly averaged nickel price is US$ 13.8 per pound at cash price of London Metal Exchange in September. Nickel price keeps the high level and there seems no factor to decline thanks to the support by actual demand as well as speculative purchasing.