Japanese stainless scrap market quiet
2014-12-19 09:32:56 [Print]
BEIJING (Asian Metal) 19 Dec 14 - Stainless scrap market remains quiet in Japan, and local market prices are temporarily unchanged. In view of the weak downstream demand, insiders don’t believe the stainless steel market will improve much within a short period.
A trader in Tokyo offers JPY165,000/t (USD1,393/t) for 304 stainless scrap, unchanged compared with last week.
According to the source, the demand for stainless scrap shows no obvious signs of releasing in Japan and the market transaction stays at a relatively low level for the time being. He discloses that though nickel prices are still fluctuating, local stainless scrap traders prefer to watch the market with stable offers seeing that the New Year holiday is drawing near. With a regular sales volume of 2,000tpm, he foresees a quiet market in following weeks.
Another local trader quotes JPY160,000/t (USD1,351/t) for 304 stainless scrap, the same as last week.
The source discloses that local market prices for stainless steel didn’t change much this month to date and the market is becoming quieter with the approach of 2015. He tells Asian Metal that since the stainless steel market is not very prosperous, he has reduced the purchasing volume from the target one of 100tpm to 40-50tpm to avoid risks. He doesn’t believe stainless scrap market will turn much better within a short term.
A trader in Tokyo offers JPY165,000/t (USD1,393/t) for 304 stainless scrap, unchanged compared with last week.
According to the source, the demand for stainless scrap shows no obvious signs of releasing in Japan and the market transaction stays at a relatively low level for the time being. He discloses that though nickel prices are still fluctuating, local stainless scrap traders prefer to watch the market with stable offers seeing that the New Year holiday is drawing near. With a regular sales volume of 2,000tpm, he foresees a quiet market in following weeks.
Another local trader quotes JPY160,000/t (USD1,351/t) for 304 stainless scrap, the same as last week.
The source discloses that local market prices for stainless steel didn’t change much this month to date and the market is becoming quieter with the approach of 2015. He tells Asian Metal that since the stainless steel market is not very prosperous, he has reduced the purchasing volume from the target one of 100tpm to 40-50tpm to avoid risks. He doesn’t believe stainless scrap market will turn much better within a short term.
