Japan Stainless Steel Sheet export Price Decreases to US$ 2,700

Japanese cold rolled stainless steel sheet export price fell below US$ 3,000 per tonne for SUS304 with 2 millimeters thick to Hong Kong. The price is at US$2,700, which is the same level in the beginning of 2006 when nickel price started to rise in London Metal Exchange. Large dealer source said the inventory of cold rolled stainless steel sheet in China is increasing due to decreased demand worldwide, and Chinese and South Korean stainless steel makers are raising the selling price of it due to cheap won rate.

But the cold rolled stainless steel sheet market price is likely to require a time for hitting the bottom while nickel price is sounded to rise. A maker source said Japanese makers keep the selling price when the selling price may reduce to US$ 2,200-2,300 per tonne if they secure the orders aggressively.