Market price of nickel series stainless steel cold rolled sheet edges downward around Tokyo and Osaka. Around Tokyo, the price has lowered by 10,000 yen to around 310,000 yen per tonne for SUS304 base size products with 2 millimeters thick. The users have shrunk material procurement with an expectation nickel market price becomes even lower. Thus inventory adjustment hasn’t progressed well among dealers. Actual demand seems to maintain weak for a while. On the other hand, stainless steel import is currently increasing.
In usual years, dealers’ shipment had activated in the demand season of autumn. At present, one dealer source said the users are in wait-and-see stances since nickel market price is expected to decrease more. Some dealers are posting monthly losses due to minus gap between high cost price and low reselling price. Nickel market price shows weak tone. Another dealer source around Tokyo said Nippon Steel & Sumikin Stainless Steel Corporation, Japan’s largest stainless steel maker, is likely to lower its selling price in November while the dealer don’t increase the purchasing volume when the inventory is surplus against the demand. Meanwhile, Japanese import of cold rolled stainless steel sheet currently keeps the level at 6,000-7,000 tonnes per month. Around Osaka, the market price has downed by 10,000 yen to 310,000 yen per tonne for SUS304 base size with 2 mm thick this month. The price is edging downward, too.Japan Steel Scrap Composite Prices (Sangyo Press)
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