Stainless Bar Price is Firm in Tokyo

Stainless steel bar market price is firm. The market price increased to 730,000 yen per tonne for SUS304 grade, 1.09 million yen for SUS316 around Tokyo when dealers raised the reselling price by 60,000 yen per tonne in June.The demand is strong from liquid crystal panel and solar battery panel manufacturing equipments as well as construction machines or working machines.Steel makers take precedence the output of special steel bar while reduce the output of stainless steel bar from last year slightly. Makers are entertaining to decrease selling price for August orders due to decreased nickel price.A major dealer source said stainless steel bar shipment is firm among dealers while is expected to slow down due to decreased market price in near future. Averaged nickel price in July was US$ 9.14 per pound in weak tone.