Firm Stainless Bar Price in Tokyo

Stainless steel bar price is firm at 570,000 yen per tonne for SUS304 grade and at 850,000 yen for SUS316 around Tokyo thanks to strong demand. Some Japanese makers raised their selling price by around 40,000 yen per tonne for January contract. The market price is expected to rise more in near future. Nickel price at London Metal Exchange increased to record US$ 15.68 per pound as monthly average in December 2006. Japanese makers are likely to raise their selling price once again to reflect high material price. The demand is strong for manufacturing equipment such as semiconductor production machine. The supply is tight. The demand is expected to keep strong with active business investment. Both makers and dealers keep strong selling stances when they are suffered from extremely high nickel price. Dealer source said the price is expected to become stable after continuous hike.