Ni Series Cold Stainless Sheet Price May Turn Upward, Tokyo

Market price of cold-rolled nickel series stainless steel sheet shows a sign of surging around Tokyo. Active demand still keeps slow but the supply might tighten as soon as the demand recovers because most market dealers have finished inventory adjustment. Nippon Steel & Sumikin Stainless Steel Corporation (NSSC) is likely to raise its alloy charge for cold Ni series stainless sheet at a price announcement for July contracts scheduled in next week. This is also a positive factor for the market price.

The market price stays flat at around 280,000-290,000 yen per tonne for SUS304 base size products with 2 millimeters of thickness, which is expected to surge at the end of July and increase more toward autumn.

Domestic stainless steel makers are currently raising the selling price for wholesalers to reflect high alloy charge. Wholesalers are now suffered from low sales and high cost price. Some of market dealers decided the price hike in July to improve profitability.

Demand for cold Ni series stainless sheet maintains stagnant from construction materials but hit the bottom from automobiles and home appliances. Trading among dealers is being active when market inventory has largely reduced.

Stainless mills continue output reductions. Their operation rate stays average 50%. Meanwhile, hot coil export is steady when offshore market price is surging. Domestic market price might be stimulated and turn upward toward autumn.