Weak Ni Stainless Cold Sheet Price in Tokyo

Stainless cold rolled flat steel market price is weak at around 280,000-290,000 yen per tonne for SUS304 base size around Tokyo. Dealers’ shipment keeps slow after long holidays in early May. On the other hand, the market price seems to hit the bottom due to rising nickel price and decreasing dealers’ inventory.

Japanese stainless steel makers are expected to raise the selling price for dealers effective for May contracts by surcharge system to reflect upsurge of nickel price. Averaged nickel price was US$ 5.06 per pound in April, which exceeded US$ 5 for the first time in 3 months. But a dealer source said they are unwilling to have more inventories than the present. Dealers are likely to continue the purchase as much as immediate necessity.

Overseas market price is upward. Japanese market price may rise in summer because Japanese market price used to follow offshore market price after 3 months generally. A dealer source said the market price could rise if actual demand recovers. Market inventory decreased and material price became stable.