Japan's 300s stainless CR sheet spot prices up $88/t MoM

Japan's 300-series stainless cold-rolled (CR) sheet spot prices have gained Yen 10,000/tonne ($88/t) on month as of December 2, as dealers have succeeded transferring some of the price increments by the producers after nearly one month of efforts, and further rises are expected on possibly tighter supply, according to market sources.

As of December 2, SUS304 grade 2mm CR cut sheet was transacted in the spot market in Tokyo at Yen 450,000/t, up Yen 10,000/t from early November, and some marke sources expected it to rise another Yen 5,000-10,000/t by the end of December on better demand and the strain