Japan Stainless Export Keeps Low in February

Japanese stainless steel export decreased by 0.1% to 54,915 tonnes by 0.1% in February from January, according to Japan Stainless Steel Association. The export increased by 19% to 39,703 tonnes for flat products and by 8.3% to 2,181 tonnes for long products. The export decreased by 34.3% to 11,143 tonnes for seamless tubes.

Total export decreased by 53% in February from a year earlier. Meanwhile, the export price is likely to hit the bottom when the inventory adjustment has progressed in overseas market more than domestic market. Stainless demand is recovering step by step. Major European stainless steel makers raised their selling price.

Japanese stainless steel export increased by 23.5% to 36,778 tonnes to Asia. The export price of cold rolled stainless steel sheet is low at around US$ 2,000 per tonne for SUS 304 to Hong Kong. However, the export price is expected to rise soon when nickel price is rising rapidly.

A maker source said offers are slightly increasing from overseas importers in April. Japanese stainless steel export is expected to increase from the bottom of February.