Market Price of Stainless Steel Sheet Keeps Strong in Tokyo

The market price of stainless steel sheet is strong in Tokyo for both nickel and chrome series thanks to the firm demand. The price is at 340,000 yen per tonne for base sized products of SUS 304 and at 210,000 yen per tonne for base sized products of SUS 430.

Monthly average of nickel price at London Metal Exchange was US$ 12.06 per pound in July, increasing by over US$ 2.5 from June. The high nickel price would impact the selling prices of Japanese stainless steel makers against distributors in August because nickel is the main material for stainless steel.

Market price of chrome series stainless steel sheet is also rising thanks to the increasing chrome price and the demand shift from nickel series. Some users are already starting to shift from nickel series to chrome series products. The demand keeps active for automobiles.

The selling price of Nippon Steel & Sumikin Stainless Steel Corporation, Japanese biggest stainless steel maker, was 375,000 yen per tonne for nickel series stainless steel sheet in July. The price should reach 400,000 yen per tonne along the surcharge price system. Dealers are going to face severe cost price up when there are fewer working days due to the summer holidays around mid August.