Weak Ni Stainless Bar, Firm Cr Series in Tokyo

Stainless steel bar market price is weak at around 690,000-700,000 yen per tonne for SUS304 and at around 1.04-1.06 million yen for SUS316 around Tokyo. The price is firm at 425,000 yen for SUS403 after makers’ hike. The price could keep the trend despite of the uncertainty under tight production schedule by domestic makers.

The buyers try to find the trend for nickel series products after Japanese makers announced 5% or 30,000 yen per tonne price cut for nickel series products for October-November shipment.

Chrome series products are expected to increase more after 10% or 30,000 yen per tonne hike by the makers. However, the price could peak after quarterly ferrochrome price negotiation was concluded to decrease by 9% for October-December from July-September.

The demand was firm but started to show sign to slow down due to slower order receipt for machine tool and capital expenditure for semiconductor manufacturing equipment after August. A dealer source said the stainless bar inventory could increase.