Japanese stainless scrap price flat
2015-10-10 09:23:05 [Print]
BEIJING (Asian Metal) 10 Oct 15 - The stainless scrap price keeps stable in Japan at the moment, coupled with participants’ wait-and-see attitudes. Currently the prevailing price of 304 solid scrap is JPY125,000-130,000/t (USD1,037-1,083/t). Insiders foresee a stable price next week.
A trader in Tokyo tells Asian Metal that his quotation for 304 solid scrap is JPY130,000/t (USD1,079/t), the same as last week.
According to the source, the price has been stable for around four weeks and he does not think it will change in the near future under the steady market. Noted by him, though some local traders lifted quotations by around JPY10,000/t (USD83/t) this week boosted by slight price rebound of nickel at LME, it is hard to conclude deals with higher prices and the prevailing price keeps stable. With a projected monthly sales volume of 10,000t, he estimates it will be 6,000-7,000t in October, basically the same as that in September.
Another trader also in Tokyo quotes JPY125,000/t (USD1,037/t) for 304 solid scrap, unchanged over last week.
With an estimated sales volume of 2,000t in October, against 3,000t in the corresponding period of past year, the source foresees a stable price in the short term. According to him, though the market performance should warm up after Mid-September traditionally, it failed to make any progress this year and most traders like him pinned no hope on the market in October. In addition, he deems if the demand continues to be weak in coming weeks, the stainless scrap price is likely to go down by around JPY5,000/t (USD41.5/t).
A trader in Tokyo tells Asian Metal that his quotation for 304 solid scrap is JPY130,000/t (USD1,079/t), the same as last week.
According to the source, the price has been stable for around four weeks and he does not think it will change in the near future under the steady market. Noted by him, though some local traders lifted quotations by around JPY10,000/t (USD83/t) this week boosted by slight price rebound of nickel at LME, it is hard to conclude deals with higher prices and the prevailing price keeps stable. With a projected monthly sales volume of 10,000t, he estimates it will be 6,000-7,000t in October, basically the same as that in September.
Another trader also in Tokyo quotes JPY125,000/t (USD1,037/t) for 304 solid scrap, unchanged over last week.
With an estimated sales volume of 2,000t in October, against 3,000t in the corresponding period of past year, the source foresees a stable price in the short term. According to him, though the market performance should warm up after Mid-September traditionally, it failed to make any progress this year and most traders like him pinned no hope on the market in October. In addition, he deems if the demand continues to be weak in coming weeks, the stainless scrap price is likely to go down by around JPY5,000/t (USD41.5/t).
