Stainless Cold Rolled Sheet Price Levels Off in Tokyo

Market price of nickel series stainless cold rolled flat steel levels off at 310,000-315,000 yen per tonne for SUS 304 around Tokyo. The market price hit a ceiling due to low demand though nickel price keeps steady at London Metal Exchange. Dealers are trying to pass high purchase price on the reselling price. However, price hike is hindered by stagnant demand.

Dealers’ shipment had been active mainly for trading among dealers until this autumn. The supply was tight with few inventories in the market. The market price was in uptrend. However, dealers are currently concerned about the increase of import products.

Inventory rate of cold rolled stainless sheet at Japanese coil centers was below 1.5 months against shipment in October, according to Japan Coil Center Association. Market trading is recently inactive though the figure indicates the supply tightenss. A major dealer source said the demand seems to have peaked out in November and the market condition may keep the present level for a while.