Japan’s nickel-based stainless steel cold-rolled sheet market is experiencing continued price declines across major cities like Tokyo, Osaka, and Nagoya. Since last summer, both manufacturer and peer market prices have trended downward, with distributors reporting the highest inventory levels in nearly two years due to sluggish sales and weak demand.
The current market price for SUS304 (2.0 mm) stands at JPY 570,000/t ($3,880/t) in Tokyo and Osaka, and JPY 580,000/t ($3,948/t) in Nagoya, though some transactions are occurring at even lower prices.
The price drop is being driven by a combination of falling domestic prices, increased availability of cheaper imported material, and lacklustre demand from construction and industrial machinery sectors.
According to industry data, cumulative sales of nickel-based cold-rolled products from January to May were down 3% y-o-y, while inventories rose from 59,543 t at the end of last year to 62,392 t by the end of May.
With ongoing uncertainty around US tariffs and economic weakness in China, most distributors expect the current subdued demand to persist. While some market participants are calling for price discipline to protect margins, the overall outlook remains cautious as traders balance inventory reduction with the need to maintain profitability.
Note: This article has been written in accordance with a content exchange agreement between Japan Metal Daily and BigMint.
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