Thai stainless scrap market inactive
2013-04-18 11:46:35 [Print]
BEIJING (Asian Metal) 26 Dec 12 - Currently the price of stainless scrap keeps stable in Thailand, but the market performance remains unsatisfying with the approach of the year-end. Insiders deem the price is likely to continue to be unchanged in following two days of this week seeing the New Year holiday is coming.
A middleman in Bangkok tells Asian Metal that the delivered price of 304 solid scrap is THB52,676/mt (USD1,720/mt, VAT excluded), the same as that of last week.
Meanwhile, the source reveals that the continuous price decline of nickel heightens stainless scrap market participants’ cautious attitudes. Therein, the price of nickel in LME futures market witnessed a total markdown of USD765/t in past five days. In addition, with the approach of the year-end and the New Year holiday, downstream customers are inactive in placing orders, thus the sales performance is unsatisfactory. However, he forecasts a better market performance in the first quarter of 2013 when the domestic demand for stainless scrap will release with the resumption of downstream foundries and the economy in China is expected to get better.
A purchaser in Nonthaburi tells Asian Metal that the delivered price of 304 solid scrap is THB52,431/mt (USD1,712/mt, VAT excluded), unchanged over that of last week, but down by THB2,456/mt (USD80/mt) compared with that of last month.
In the meantime, the source discloses that with the price decline of nickel in LME futures market, the price of stainless scrap keeps decreasing slightly. Besides, he can not afford to build a large stock due to the shortage of capital. “I just purchase to meet urgent needs to avoid potential risks,” he adds. Regarding the coming market, he is not so optimistic, believing that economic situations in the U.S. and eurozone are uncertain, thus the price of stainless scrap is unlikely to go up in a short term.
