Japan Export Price Keeps Rising for Stainless Steel Sheet

Japanese export price of cold-rolled stainless steel sheet is increasing. Chinese export is increasing sharply bound for Europe to several tens of thousand tonnes per month due to short supply in Europe. Under the situation, the export price from Japanese makers to Asian users exceeded C&F US$ 4,100 per tonne for SUS304 for November shipping. Japanese export price increased by about US$ 1,000 in late 3 months, which was US$ 3,150 for July-August shipping. Nickel spot price at London Metal Exchange was US$ 14.7 per pound on October 26. The export price would increase more for December shipping to reflect high material prices.Japanese export price for Asia, especially for China, is directly reflecting high nickel price. LME nickel spot price was averagely US$ 13.95 per pound in August and US$ 13.67 in September. The price keeps surging which hit US$ 15.6 on October 20. The base price for stainless steel sheet is also increasing gradually.Japanese makers’ selling prices seem to become to US$ 4,300-4,400 per tonne for December shipping. Japanese maker source said orders for February 2007 shipping are already received in German. Japanese export price would maintain uptrend while the supply keeps tight in Asia and Europe and nickel price stays at the high level.