Japan Ni Stainless Cold Rolled Steel Export Price Drops by 10%

Japanese nickel series stainless steel cold rolled sheet export price to Asia is low. Current export price is FOB US$ 2,700 per tonne for base size, 10% lower than in the summer. The export price to Asia declined due to the inventory increase in China and a drop in the price of raw materials in September and early October. The importers in China seemed to reduce the order in China National Day.

Japanese stainless steel makers watch the price trend in Asian market while the makers tried to increase the export until August. The makers are reluctant to export at lower price while the domestic demand recovered to around 70% of the peak.

Japanese makers’ shipment is relative firm when the stock is at historically low level. The domestic price is increasing steadily while the price in Asian market is volatile.

Nickel price at London Metal Exchange increased to US$ 8.8 per pound on Friday. Japanese stainless cold rolled steel export price could increase when the material price rise, according to a Japanese trade firm source. However, the price would change in narrow ranges when the stock is at high level in Asian market.