Japanese stainless scrap market sluggish
2014-11-07 09:18:21 [Print]
BEIJING (Asian Metal) 7 Nov 14 - Stainless scrap market remains sluggish in Japan at the moment, and local traders’ quotations are still decreasing gradually along with a lower raw material price. Insiders believe stainless scrap market in Japan will continue to run slowly for some time.
A trader in Tokyo offers JPY155,000/t (USD1,353/t) for 304 stainless scrap, down by JPY5,000/t (USD44/t) compared with that of two weeks ago.
According to the source, the price of stainless scrap remains on a downward trend in Japan and it decreased by JPY20,000/t (USD175/t) totally in past two months. According to him, the demand for stainless scrap is not strong at all in Japan for the time being and the sales performance for finished stainless steel products like pipe and sheet is also very unsatisfactory. He discloses that the price of nickel, the raw materials is unlikely to rebound soon and the market prospect for stainless scrap in Japan is dim.
Another local trader quotes JPY160,000/t (USD1,396/t) for 304 stainless scrap, unchanged over that of last week.
He reveals that the nickel closing prices on London Metal Exchange decreased from USD15,670/t at the end of last month to the current one of USD15,320/t. To avoid risks, he delivered all products out when the stainless scrap price was as high as JPY170,000/t (USD1,484/t) in October. Currently, he just purchases from local distributors after receiving firm orders from end users. With a regular sales volume of 100t, he is pessimistic about the forthcoming market.
A trader in Tokyo offers JPY155,000/t (USD1,353/t) for 304 stainless scrap, down by JPY5,000/t (USD44/t) compared with that of two weeks ago.
According to the source, the price of stainless scrap remains on a downward trend in Japan and it decreased by JPY20,000/t (USD175/t) totally in past two months. According to him, the demand for stainless scrap is not strong at all in Japan for the time being and the sales performance for finished stainless steel products like pipe and sheet is also very unsatisfactory. He discloses that the price of nickel, the raw materials is unlikely to rebound soon and the market prospect for stainless scrap in Japan is dim.
Another local trader quotes JPY160,000/t (USD1,396/t) for 304 stainless scrap, unchanged over that of last week.
He reveals that the nickel closing prices on London Metal Exchange decreased from USD15,670/t at the end of last month to the current one of USD15,320/t. To avoid risks, he delivered all products out when the stainless scrap price was as high as JPY170,000/t (USD1,484/t) in October. Currently, he just purchases from local distributors after receiving firm orders from end users. With a regular sales volume of 100t, he is pessimistic about the forthcoming market.
