Japan Stainless Cold Rolled Export to Rise by US$ 200/T

Japanese stainless cold rolled flat steel price would increase to Asia. Japanese makers would increase the offer price to US$ 3,000 per tonne including freight for SUS 304 cold rolled coil to Hong Kong for April arrival, which is about US$ 200 higher than the level in the beginning of February. The makers increase the offer when stainless steel makers in China raised the price to cover higher nickel price at London Metal Exchange. Japanese export price would increase while the domestic demand remains low.

Taiyuan Iron & Steel increased SUS 304 stainless cold rolled coil price to 24,120 yuan or around 323,000 yen per tonne on Tuesday, which increased by 1,500 yuan from last week. The market price is increasing in China and other Asian countries after Chinese New Year holiday. Nickel price at LME increased to US$ 9.30 per pound on Monday from US$ 8.20 per pound on February 1.

Stainless steel demand is firm in China and Asian countries and the inventory is not excess level, according to Japanese trade firm source. Japanese makers could increase the export to Asia when the makers see the market price in Asia has reached the certain level.