Weak Stainless Bar Price in Tokyo

Stainless steel bar market price is weak at around 520,000-540,000 yen per tonne for SUS304 and at around 800,000-820,000 yen for SUS316 around Tokyo. The shipment of makers and dealers is slow when the demand for equipment or tool machinery keeps low. Dealers are trying to adjust the inventory but the adjustment hasn’t made any impact on the supply and demand balance.

Japanese nickel series stainless steel bar inventory slightly decreased to 24,977 tonnes in February from last month, according to Japan Stainless Dealer’s Association. A major dealer source said they hope to reduce the inventory before the demand rebound.

Material price is decreasing. Nickel price dropped to around US$ 4.5 per pound. A major dealer source said the stainless bar market price may hit the bottom soon along the nickel price. However, in fact, the market price is likely to continue gradually downward for a while.