Price of Ni Series Cold Stainless Steel Sheet Keeps Weak, Tokyo

The market price of cold-rolled stainless steel sheet is weak at around 480,000 yen per tonne for base sized SUS304 while strong at around 270,000 yen per tonne for base sized SUS430 in Tokyo. There exists a contrasting price trend between nickel and chrome series products. Actual demand maintains weak for nickel series sheet with less business days in August. The market price continues declining.Demand for chrome series cold sheet keeps steady from automobiles. Some users shifted to chrome series sheet from nickel series sheet especially for construction materials. The shifting trend is continuing. A dealer source said the users are unlikely to return to nickel series products yet even when nickel price became relatively cheap.Some of Japanese stainless steel makers such as Nippon Steel & Sumikin Stainless Steel Corporation announced they put off order receipt for nickel series cold sheet from distributors in August. Supply and demand balance of nickel series cold sheet is expected to become moderate in September.The latest nickel market is US$ 9.5 per pound at overseas. The price rebounded after mid August.