Strong Stainless Steel Sheet Price in Tokyo

Market price of nickel series cold rolled stainless steel sheet increased by 20,000 yen per tonne and is expected to reach 560,000 yen of record level for SUS304 with 2 millimeters thick around Tokyo. The price is at 540,000-550,000 per tonne now in strong tone. The market anticipates higher price and might hit 600,000 yen in early April depending on the shipment condition at the dealers. Steep rise of nickel price forced Japanese stainless steel makers into price hike repetition. Nickel spot price at London Metal Exchange hit US$ 18.8 per pound on February 5 and LME nickel inventory fell to below 3,000 tonnes. Japanese stainless steel makers cannot refrain from next price hike due to increasing material prices this month. The yen rate keeps cheaper against US dollar additionally. The makers’ selling price seems to up by 20,000-30,000 yen per tonne for distributors. The supply of nickel series sheet maintains tight, even though some users shifted to chrome series sheet. The demand keeps active. Some makers try to meet increasing demand for export by cutting the shipment for domestic distributors. Inventory of nickel series cold stainless steel sheet decreased to 1.65 months of shipment in December, according to Japan Stainless Coil Center Industry Association. The inventory keeps low level compared with 1.7 months of normal level.