Japanese stainless scrap traders foresee a stable price
2014-09-11 09:28:31 【Print】
BEIJING (Asian Metal) 11 Sep 14 - Currently most stainless scrap traders in Japan are adopting wait-and-see attitudes towards the coming market and they forecast a stable price in the coming week. The prevailing price of 304-type is around JPY180,000/t (USD1,690/t), the same as last week.
A trader in Osaka tells Asian Metal that his quotation for 304 stainless scrap is JPY180,000/t (USD1,690/t), equaling to last week.
In the meantime, the source states that the price has been stable for over three weeks and he does not think it will change in the near future, with a wait-and-see attitude. According to him, most Japanese steel mills maintained stainless steel list prices stable for September, and thus stainless scrap traders tend to follow suit. Currently he holds a low stock of 50-60t in hand and has no plan to replenish it in the short term.
Another trader in Tokyo also offers JPY180,000/t (USD1,690/t) for 304 stainless scrap, unchanged over last week.
The source predicts the price is likely to run on a flat trend next week. He explains that demand is not so strong in Japan for now, and it is unlikely to release conventionally within September, so most traders do not think the price will rise. Besides, the sharp price increase of nickel at LME helps to prevent the stainless scrap price from dropping. With a sales target of 10,000t per month, the source estimates it will be no more than 8,000 in the current month.
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A trader in Osaka tells Asian Metal that his quotation for 304 stainless scrap is JPY180,000/t (USD1,690/t), equaling to last week.
In the meantime, the source states that the price has been stable for over three weeks and he does not think it will change in the near future, with a wait-and-see attitude. According to him, most Japanese steel mills maintained stainless steel list prices stable for September, and thus stainless scrap traders tend to follow suit. Currently he holds a low stock of 50-60t in hand and has no plan to replenish it in the short term.
Another trader in Tokyo also offers JPY180,000/t (USD1,690/t) for 304 stainless scrap, unchanged over last week.
The source predicts the price is likely to run on a flat trend next week. He explains that demand is not so strong in Japan for now, and it is unlikely to release conventionally within September, so most traders do not think the price will rise. Besides, the sharp price increase of nickel at LME helps to prevent the stainless scrap price from dropping. With a sales target of 10,000t per month, the source estimates it will be no more than 8,000 in the current month.
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