Flat Stainless Plate Price in Tokyo

Stainless steel plate market price is flat at 710,000-720,000 yen per tonne for SUS304 grade cut hot coil and at 810,000-820,000 yen for plate mill products around Tokyo. The price is 1.1 million yen for SUS316 with 12% nickel. The dealers try to pass the higher cost price for high priced inventory, which arrives at dealers and reflects nickel ingot price in May, while the buyers resist the higher price due to plunge of nickel market. Japanese largest maker of Nippon Steel & Sumikin Stainless Steel cuts the order from distributors by around 30% from a year earlier. The firm tries to improve the supply balance under lower demand for civil works when the dealers’ shipment gets slow and the buyers are reluctant to buy with expectation for lower price as stainless sheet. The dealers’ inventory increases with higher import from South Korea and China. The hot rolled stainless plate inventory increased by 8.8% in May from a year earlier, according to the national processors’ group. The transaction was also slow between the dealers and the inventory is expected to increase more.