Weak Stainless Plate Price in Tokyo

Stainless steel plate market price decreased to 600,000 yen per tonne for SUS304 grade cut hot coil and to 720,000 yen for SUS316 for plate mill products, down by 30,000-40,000 yen compared to the beginning of this month around Tokyo. Coil centers’ shipment for distributors is slower compared with last year.The hot rolled nickel series stainless plate sales decreased to 8,246 tonnes by 33% in September from a year ago, according to the national processors’ group. The sales decreased for 7 consecutive months, which was lowest for 3 years.Nippon Steel & Sumikin Stainless Steel (NSSC) keeps full operation in case scheduled refinement and is accumulating the products. The firm is increasing the shipment for specific users which their production is high and decreasing for dealers.LME nickel price increased to US$ 14.6 per pound in November 15. NSSC raised the nickel series products price by 20,000 yen per tonne fo the contract in this month and is expected to raise the price by 10,000 yen in next month. Dealers’ purchase price is increasing. But the market price is continuing weak tone.