Firm Stainless Sheet Price in Tokyo

Stainless sheet steel price is firm at 440,000-460,000 yen per tonne for SUS304 grade and at 220,000 yen for SUS430 around Tokyo. The price is expected to increase more especially for nickel series products. The distributors’ market price increased to 440,000 yen per tonne in October. The price is expected to increase by 20,000 yen in late November and to 480,000 yen by the end of November. Nickel price was US$ 14.8 per pound at London Metal Exchange on Friday. The price was averaged US$ 14.83 in October, which increased by around US$ 1 in a month. The higher nickel price could increase the nickel series products’ price by 20,000 yen per tonne under the surcharge mechanism. The market waits price announcement by Nippon Steel & Sumikin Stainless Steel and Nisshin Steel. The demand is firm both for nickel and chrome series stainless products. The distributors’ inventory is record low at 1.56 months for the shipment. The domestic supply tends to delay when the makers ship more for export market.