Stainless steel bar market price is 550,000-560,000 yen per tonne for SUS304 grade around Tokyo. The price is higher by 50,000 yen than in October. The demand bottomed out but dealers’ shipment still stays low. Dealers are trying to raise the reselling price in November to follow makers’ price hike.
The demand is expected to turn upward from industrial machines and construction machines. Meanwhile, one large dealer source said the demand could recover to 60-70% level of the peakl in spring 2008. Inventory adjustment of stainless bar has almost completed in the market. Dealers’ sales volume was 7,060 tonnes in September, exceeding 7,000 tonnes for the first time in this year. Nickel price at London Metal Exchange (LME) decreased to US$ 8.4 per pound in October. Averaged price is US$ 8.1 for 4 months. Some dealers are concerned LME nickel price may drop because LME inventory keeps increasing trend.| M | T | W | T | F | S | S |
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Japan Steel Scrap Composite Prices (Sangyo Press)
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