Strong Stainless Sheet Price in Tokyo

Stainless steel sheet market price is strong at 440,000 yen per tonne for SUS304 and at 210,000 yen for SUS430 around Tokyo. Demand is increasing for chrome series stainless steel mainly for automobile and home appliances while the nickel series demand is expanding as well.Monthly average of nickel price became to US$ 14.8 per pound at London Metal Exchange by October 30, which increased by more than US$ 1 from September. With the level, Japanese makers are expected to raise their selling price of nickel series cold-rolled stainless steel products against distributors in November. Dealer source said that market inventory is at much lowest level. Japanese stainless steel makers are shipping more nickel series items for export because the export price is recently rising, while decreasing order acceptance from domestic distributors. The supply keeps tight. Inventory to shipment rate at distributors is low at 1.5 months for nickel series products and 1.7 months for chrome series products around Tokyo. The market price for nickel series products could reach 480,000 yen per tonne in November.