Weak Stainless Cold Rolled Flat Steel Price in Tokyo

Stainless cold rolled flat steel market price is weak at around 600,000 yen per tonne for SUS304 grade base size and at around 245,000-250,000 yen for SUS430 around Tokyo. The price is likely to keep weak under inventory adjustment by the buyers and very slow building demand due to transition process for new building standard law. Nickel ingot price is around US$ 14 per pound compared with US$ 13.4 in September and US$ 12.5 in August. Japanese interests expect the ingot price could hit bottom so far. Japanese stainless market expects domestic stainless makers will increase the selling price. Nippon Steel & Sumikin Stainless Steel is likely to increase the price by 20,000-30,000 yen per tonne in November. Nisshin Steel will reduce the price due to the every 2 months price revision. Nisshin Steel also increases the price in January.