Peaking Ni Stainless Cold Rolled Price in Tokyo

Nickel series stainless cold rolled steel sheet market price is increasing from 310,000-320,000 yen per tonne for SUS 304 around Tokyo. However, the price increase pace is slower than summer season when nickel price decreases.

New housing starts decreased by 27% in October from a year earlier, which represents decreases for 11 months in a row, according to Ministry of Land, Infrastructure, Transport and Tourism. The housing starts are expected to become less than 1 million units for the first time in 42 years. Stainless steel market is impacted by the slump in construction, which is the largest application of stainless steel.

The shipment and the inventory increased in October from September when the dealers increased the purchase to restock the stock out size. The inventory to sales ratio is low at 1.47 months. One major dealer source sees the ratio is low compared with the normal level and the dealers are reluctant to increase the stock to avoid potential price down risk.