Japan Stainless Steel Sheet Orders Increases by 19.1% in August

Japanese stainless steel makers’ order receipts for stainless steel sheet increased by 19.1% to 169,437 tonnes in August from July, according to Japan Stainless Steel Association. The orders rebounded after 5 months. The orders increased by 15.2% to 56,614 tonnes for export while by 22.6% to 104.623 tonnes for domestic market. Especially, the orders increased for nickel series products. The orders increased by 71.2% to 29,484 tonnes for wholesalers, among which nickel series sheet increased by 2.1 times to 25,708 tonnes while chrome series sheet decreased by 25.5% to 3,776 tonnes. Among exporting orders, nickel series sheet increased by 37.9% to 27,711 tonnes. The orders for automobiles decreased by 5.7% to 28,689 tonnes, among which chrome series sheet decreased by 8.5% to 23,639 tonnes.

Japanese stainless steel export decreased by 18.6% to 89,480 tonnes including long products, sheets and tubes in August from July, according to the association. The export represented below 100,000 tonnes for the first time in 6 months. Asian stainless steel users were in adjustment phase while domestic makers seem to have reduced export order receipts due to higher yen rate. The export decreased by 24.3% to 62,109 tonnes for stainless sheet. Sheet export to South Korea decreased by 24.2% to 13,781 tonnes.

Japanese stainless makers’ stocks decreased by 3.4% to 99,209 tonnes in August from July, while increased by 5.2% from a year earlier, according the association. However, market dealers can’t penetrate price hike to users despite of makers’ price hike. Demand condition is unforeseeable and stainless steel market price is slightly weak. Nickel series stainless bar market price keeps flat at 610,000-620,000 yen per tonne for SUS 304 around Tokyo.