Weak Stainless Steel Plate Price in Tokyo

Stainless plate market price is weak at 600,000-630,000 yen per tonne for SUS304 hot rolled cut plate with 3-6 millimeters thick and at 720,000-750,000 yen for SUS304 plate mill products with 7-14 mm thick around Tokyo. The price is likely to keep weak under oversupply in the distributors’ market. The demand is strong for major worldwide projects including petrochemical plant and liquid natural gas projects while the plate mill products supply is very tight due to limited supply ability worldwide. Nippon Steel & Sumikin Stainless Steel operates the plate mill at full capacity at Yawata plant partly to build inventory before regular maintenance. The distributors reported the shipment is lower than usual partly due to adjustment of vacuum chamber making machine industry. The distributors are likely to continue inventory adjustment.