Nickel series stainless cold rolled sheet steel demand experiences very slow demand around Tokyo. The price is weak at 560,000-580,000 yen per tonne for SUS304 grade base size. The price is, however, expected to increase after it hits bottom at more than 500,000 yen in December. Nickel ingot price is around US$ 14 per pound, which is in line with average of October and higher than September. Nippon Steel & Sumikin Stainless Steel is likely to increase the selling price of nickel series stainless cold rolled steel by 10,000 yen per tonne for distributors for December order. The higher makers’ price could lift the dealers’ reselling price in months. Stainless coil centers’ inventory decreased by 4.7% to 73,138 tonnes for nickel series cold rolled flat steel in October from September, according to the industry association. The sales volume increased by 9.4% to 28,498 tonnes and the stock represented 2.57 months of the sales. The dealers’ try to reduce the stock level when the stock is still higher than normal level despite of the drop from the peak.
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