Nickel series stainless cold rolled flat steel market price is decreasing to around 400,000-410,000 yen per tonne for SUS304 base size around Tokyo. Nickel ingot price dropped to close US$ 4 per pound. Users are holding back on buying of stainless products when the stainless product price is expected to drop soon.
A dealer source said dealers’ sales in December might hit the bottom of this year. A secondary dealer source said secondary dealer’s inventories are not moving due to any orders. Small-middle dealers’ cash management is becoming severe. The demand for mainly building material is slow. Large size building plans are canceled or postponed. Market inventory volume is decreasing slightly when dealers’ sales volume doesn’t increase despite of output reductions by Japanese stainless steel makers or dealers’ inventory adjustment. Some dealers are selling the products at below 400,000 yen per tonne.Japan Steel Scrap Composite Prices (Sangyo Press)
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