Weak Stainless Plate Price in Tokyo

Stainless steel plate market price keeps decreasing around Tokyo. The demand condition gets worse as time goes on when building projects are postponed and canceled. The price is weak at around 380,000 yen per tonne for SUS304 hot rolled coil cut plate and at around 520,000 yen for plate mill products. The price could keep decreasing.

The demand was strong worldwide mainly for chemical tanker, seawater desalination plant and other manufacturing equipments until last fall. However, such projects are postponed and frozen after financial crisis.

The distributors’ shipment is very slow around Tokyo. The buyers expect lower price when nickel ingot price decreases at London Metal Exchange and distributors’ inventory increases along with holding order by the buyers. A distributor said lower capital expenditure reduces the stainless plate demand and the demand is uncertain for near future.