Decreased Ni Series Stainless Cold Sheet Market Price around Osaka

Nickel series cold rolled stainless sheet market price is decreasing slightly around Osaka due to decreased LME nickel price. The demand is recovering for automobile, but anticipation of fall becomes conspicuous and overseas transfer is increasing by some users and economical imported products is increasing. The market price is 320,000 yen per tonne for the size with 2 millimeters thick for SUS 304 around Osaka. One dealer source expects the market price maintains weak tone for a while.

Nickel price on LME is decreasing to US$ 8 per pound slightly from the beginning of August. Nippon Steel & Sumikin Stainless Steel, Japanese largest stainless steel maker, reduced the sales price of nickel series cold rolled stainless sheet and plate by 10,000 yen per tonne for domestic dealers, which decreased for 2 consecutive months.

Dealers’ sales is low due to anticipation of fall. The demand is weak for building material and semiconductor. Imported products is increasing for sheet and bar due to high yen rate.

Dealers don’t want to reduce the sales price when they have overpriced inventory. They want to head off price cut.