Thai stainless scrap market dim
2014-04-24 09:04:05 [Print]
BEIJING (Asian Metal) 24 Apr 14 - The stainless scrap market runs inactively in Thailand after the Water-Sprinkling Festival holiday as most downstream factories have not started purchasing yet. Insiders think the price is likely to go up slightly in coming several days because of the price rise of the raw material-nickel.
A trader in Bangkok tells Asian Metal that the delivered price of 304 stainless scrap he received is THB53,229/t (USD1,650/t), up by THB1,600/t (USD50/t) over that before the holiday.
As a trader of stainless scrap, the source mainly purchases materials within Thailand and exports them to Southeast Asia, with a monthly trading volume of around 500t. He explains that since they just came back to work this Monday, the business has not restarted fully and he just makes some inquiries instead of placing orders. “I have not received any orders from my Indian buyers yet, so it is risky to put money on products in advance,” explains the source.
Another local trader offers THB80,000/t (USD2,470/t) for 316 stainless scrap, the same as that before the holiday.
Besides, the source confirms that the market performs inactively and he has not concluded any deals yet from Monday to Wednesday. However, considering the price of nickel in LME futures market witnessed a total markup of USD2,425/t in past three weeks to USD18,325/t, he thinks the price of stainless scrap will rise in the near future, thus he is not eager to sell products at the moment. The source’s trading volume is 3-5t per month normally.
A trader in Bangkok tells Asian Metal that the delivered price of 304 stainless scrap he received is THB53,229/t (USD1,650/t), up by THB1,600/t (USD50/t) over that before the holiday.
As a trader of stainless scrap, the source mainly purchases materials within Thailand and exports them to Southeast Asia, with a monthly trading volume of around 500t. He explains that since they just came back to work this Monday, the business has not restarted fully and he just makes some inquiries instead of placing orders. “I have not received any orders from my Indian buyers yet, so it is risky to put money on products in advance,” explains the source.
Another local trader offers THB80,000/t (USD2,470/t) for 316 stainless scrap, the same as that before the holiday.
Besides, the source confirms that the market performs inactively and he has not concluded any deals yet from Monday to Wednesday. However, considering the price of nickel in LME futures market witnessed a total markup of USD2,425/t in past three weeks to USD18,325/t, he thinks the price of stainless scrap will rise in the near future, thus he is not eager to sell products at the moment. The source’s trading volume is 3-5t per month normally.
