Market price of cold-rolled nickel series stainless steel sheet is weak at around 410,000-430,000 yen per tonne for base sized SUS304 in Tokyo. Dealers’ trading is stagnant when overseas nickel price is declining and stainless steel price is expected to lower more.
A large dealer source said market conditions are worsening week by week and sales volume became lower in November than in October. Market demand for cold-rolled nickel series stainless steel sheet maintains slow mainly from construction related materials and there is no sign to recover. Meanwhile, market inventory is gradually decreasing thanks to adjustment efforts by stainless steel makers and dealers. Market inventory of cold-rolled nickel series stainless steel sheet decreased by 4.7% to 56,873 tonnes in October from a month ago, according to the group of Japanese stainless coil centers. The inventory to shipment ratio lowered to 1.94 months. A maker source points out, severe price competition is emerging among dealers and business profitability is concerned to become seriously worse. Some dealers seem to sell the products at cheaper reselling price than cost price. The market price is likely to continue declining.Japan Steel Scrap Composite Prices (Sangyo Press)
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