Japanese stainless steel scrap price to go up
2016-07-29 08:44:02 [Print]
BEIJING (Asian Metal) 29 Jul 16 - Stainless steel scrap prices kept temporarily stable in Japan for the moment, but market participants anticipate a price rise at the beginning of August seeing rising prices from mills
A trader in Tokyo informed that the price for 304 solid scrap is JPY110,000/t (USD1,041/t), similar to last Friday.
According to the source, local stainless steel mills announced to lift stainless steel scrap purchasing prices by JPY5,000/t (USD47/t) on July 25, so that most traders like him are expecting for a nationwide price increase in early August. Besides, the average price for the raw material, LME nickel was as high as USD10,226/t in July, against that of USD8,915/t in June, strengthening market participants’ confidence to some extent . However, with the sales volume of 200t in recent one week, the source sighed that the market performs inactively because of the absence of the strong demand in the low season . Holding zero stock at hand, he sold 2,000t in June, while the projected monthly sales volume is 3,000t.
Another trader in Chiba told Asian Metal that his price for 304 solid scrap is JPY110,000/t (USD1,041/t), equivalent to last Friday.
The source also forecasts a slight price rise in the near future in view of the overall low inventory. Noted by him, not being confident of the market outlook, most traders have been cautious about supplementing inventories in recent two months, and thus the current market stockpile runs on a relatively low level . Therefore, traders with few stocks at hand are eager to lift prices once positive news occurs. After all, the current market price is around JPY25,000/t (USD235/t) lower than that in the corresponding period of last year . The source has not received any orders this week to date, and he sold 20t totally in June, with a stock of 8t at hand now.
. Meanwhile, the rigid demand is not strong in the off-season. The prevailing price for 304 solid scrap is around JPY110,000/t (USD1,041/t) . Insiders foresee a price increase in the coming week.
A trader in Tokyo informed that the price for 304 solid scrap is JPY110,000/t (USD1,041/t), similar to last Friday.
According to the source, local stainless steel mills announced to lift stainless steel scrap purchasing prices by JPY5,000/t (USD47/t) on July 25, so that most traders like him are expecting for a nationwide price increase in early August. Besides, the average price for the raw material, LME nickel was as high as USD10,226/t in July, against that of USD8,915/t in June, strengthening market participants’ confidence to some extent . However, with the sales volume of 200t in recent one week, the source sighed that the market performs inactively because of the absence of the strong demand in the low season . Holding zero stock at hand, he sold 2,000t in June, while the projected monthly sales volume is 3,000t.
Another trader in Chiba told Asian Metal that his price for 304 solid scrap is JPY110,000/t (USD1,041/t), equivalent to last Friday.
The source also forecasts a slight price rise in the near future in view of the overall low inventory. Noted by him, not being confident of the market outlook, most traders have been cautious about supplementing inventories in recent two months, and thus the current market stockpile runs on a relatively low level . Therefore, traders with few stocks at hand are eager to lift prices once positive news occurs. After all, the current market price is around JPY25,000/t (USD235/t) lower than that in the corresponding period of last year . The source has not received any orders this week to date, and he sold 20t totally in June, with a stock of 8t at hand now.