Firm Stainless Bar Price in Tokyo

Stainless steel bar demand expands for plants and other applications under firm capital expenditure by private sector. The market price is firm at 290,000 yen per tonne for SUS403 grade, 470,000 yen for SUS304 and 730,000 yen for SUS316 around Tokyo. The price is expected to keep firm with makers’ wide hike. Domestic stainless makers’ order receipt increased by 20% for flat products in June from a year earlier. However, the domestic market price is still lower than other areas when European price keeps increasing. Nickel price reached US$ 15 per pound on August 16 at cash price in London Metal Exchange, which increased by more than US$ 7 in past 6 months. The higher nickel price pressures production cost of nickel series stainless. Domestic makers try to pass the higher cost price on the selling prices. Daido Steel announced 70,000 yen per tonne of hike fro the year. Nippon Steel & Sumikin Stainless Steel will increase the price to distributors by 45,000 yen for August order while the firm increases the extra charge by 20,000-40,000 yen for SUS316 grade.