Japan Stainless Sheet Export Price Reaches US$ 3,000 to Asia

Japanese cold rolled stainless sheet export price is rising for SUS 304 of the size with 2 millimeters thick to Asia. The price is CIF about US$ 2,900 per tonne recently and is presumed to exceed US$ 3,000 for October shipment, the level as high as October 2008. Chinese stainless demand is strong and the shipment keeps high for appliances, automobiles and building materials. Price hike by Chinese stainless makers also accelerates the market. South Korean major stainless makers are enhancing the export to China. Stainless market is peaking up mainly in China.

Stainless market price is steady when stainless demand is increasing and LME nickel price is rising. Cold rolled stainless market price has surged since the beginning of fiscal 2009 (Apr2009-Mar2010) in Asia.Japanese stainless makers stopped to accept orders. On the other hand, Japanese market price continued to drop for the period, which is expected to turn up from September along supply tightness.

Japanese stainless sheet export increased by 38.7% to 89,212 tonnes in July from June and by 2.4% from a year earlier, according to Japan Stainless Association. The export is likely to increase more. However, a concerned source said the market price would drop if nickel price lowers and Chinese demand calms down.