Dealers to Increase Ni Series Cold Stainless Sheet Price in Tokyo

Nickel series cold rolled stainless steel sheet market price is flat at around 290,000 yen per tonne for SUS 304 grade around Tokyo. Market source sees the price is hitting the bottom when averaged nickel ingot price increased for 3 months in a row. The makers increase the cold rolled sheet selling price to reflect US$ 0.29 higher average nickel ingot price at US$ 9.28 per pound at London Metal Exchange in February from January. Major coil centers would increase the cold rolled sheet reselling price in March.

Some dealers’ selling price is lower than the purchase price since late last year under loose supply. One major coil center source tries to increase the price by 10,000 yen per tonne or more as early as in March when the source loses the money. The supply side move could lift the market price.

Stable nickel price would support the stainless price improvement. LME nickel price keeps US$ 9 or more per pound after the price hit more than US$ 9.60.