In most Asian countries’ stainless steel prices keep increasing due to the high cost of raw materials.

Japan’s stainless steel producers plan to raise the stainless steel export price by US$850/ton at least. Among the factors contributing to the rise, US$400 is for price increases of raw material, US$300 is for production cost increases, and US$150 is due to the yen’s appreciation in terms of the dollar.

Japanese mills have succeeded in raising the price of chrome-based hot rolled sheet shipped to China in June, and they are seeking a further increase of US$350/ton.

In South Korea, Posco raised its stainless steel April price as well.

However, the stainless steel market in China was tranquil during the past two months. China's major steel producers plan to cut their production in May in a bid to avoid the further price falls.