JMB reported that nickel series cold rolled stainless sheet market price is decreasing slightly around Osaka due to decreased LME nickel price. The demand is recovering for automobile, but anticipation of fall becomes conspicuous and overseas transfer is increasing by some users and economical imported products are increasing. The market price is JPY 320,000 per tonne for the size with 2 millimeters thick for SUS 304 around Osaka. One dealer source expects the market price maintains weak tone for a while. Nickel price on LME is decreasing to USD 8 per pound slightly from the beginning of August 2011. Nippon Steel & Sumikin Stainless Steel, Japanese largest stainless steel maker, reduced the sales price of nickel series cold rolled stainless sheet and plate by JPY 10,000 per tonne for domestic dealers, which decreased for 2 consecutive months. Dealers' sale is low due to anticipation of fall. The demand is weak for building material and semiconductor. Imported product is increasing for sheet and bar due to high yen rate. Dealers don't want to reduce the sales price when they have overpriced inventory. They want to head off price cut.

Source