Flat Ni Series Stainless, Firm Cr Stainless in Tokyo

Stainless sheet steel market price is flat at 650,000 yen per tonne for SUS304 grade base size while the price is firm at 245,000 yen for SUS430 around Tokyo. The nickel series market price is likely to keep the level while the chrome series items could increase.

The market players watch the condition for nickel series items under plunging nickel ingot price. The makers reject the order receipt from distributors for nickel series products. With the output reduction, the distributors’ inventory gets lower toward normal level. However, the distributors are reluctant to buy now with expectation for lower price.

The chrome series items are still much cheaper than nickel series. The maker source said the chrome series price is still too cheap and tries to increase the price through the negotiation with users. Ferrochrome price hit record 108 US cents per pound of chrome for July-September. The stainless makers could increase the chrome series price for September order. Some of the distributors already offer 250,000 yen per tonne and the market could keep firm.