Japan Ni Series Stainless Export Recovers to Asia

Japanese export of nickel series cold rolled stainless steel sheet is increasing to Asia. Cold coil export price is expected to approach FOB US$ 2,800-2,900 per tonne from current US$ 2,600 for SUS304 with 2 millimeters thickness. Japanese stainless makers and dealers expect stainless sheet price could be stimulated by export recovery though the demand stays low in domestic market.

Nickel price at London Metal Exchange (LME) surged and exceeded US$ 8 per pound on and after December 20th. Stainless sheet users in East Asia moved to increase their inventories with an expectation nickel series product price would rise. Japanese export price of nickel series cold sheet upped by around US$ 100 per tonne.

The current export price is approaching to domestic stainless makers’ breakeven points. However, a maker source said they hope the export price should reach US$ 2,800 considering the impact of currency exchange rate fluctuation.

On the other hand, nickel price is slightly decreasing. LME nickel inventory keeps high at 150,000 tonnes. Stainless users are cautious for the procurement when the stainless steel price is affected by Chinese demand after Chinese New Year.