Japan Stainless Dealers to Increase Reselling Price

Japanese stainless steel dealers aim to increase its reselling price from late September when the largest maker, Nippon Steel & Sumikin Stainless Steel increased nickel series cold rolled sheet selling price. The dealers plan to increase reselling price while they couldn’t fully pass the higher cost price in spring.

While the dealers were trying to pass the higher cost from price hike by makers in spring, they cannot cover all of the higher cost when NSSC reduced the selling price after the price hike. With another price hike by the makers, the dealer aims to improve profitability again.

Nickel price at London Metal Exchange is increasing for 5 trading days in a row through Tuesday and stainless steel offshore market price increased by slightly more than US$ 200 per tonne from August. Nickel price would increase more when overseas stainless steel makers would increase the production, according to Japanese trading firm source.

However, Japanese dealers’ shipment remains at low level for construction. The dealers aim to increase the reselling price in the demand season.