Weak Ni Series Stainless Cold Rolled Price in Tokyo

Nickel series stainless cold rolled flat steel market price is decreasing at around 310,000-320,000 yen per tonne for SUS304 base size around Tokyo. The price is likely to decrease more toward fiscal 2008 end when the nickel ingot price peaks and the dealers’ shipment keeps low level.

The dealers’ inventory decreases gradually when the makers have reduced the production for more than a year. However, the dealers’ shipment is still low level when the buyers try to minimize the inventory. The dealers and buyers are expected to keep low level inventory under the uncertainty.

A dealer source expects the market price could hit bottom in March but the low level price could continue through June. A trading firm source said the demand would keep the low level for construction for on year and building materials and the market price would keep the low level for the period. The market interests expect the severe market for months.