Japanese stainless scrap price down
2014-10-21 09:12:19 [Print]
BEIJING (Asian Metal) 21 Oct 14 - The stainless scrap market remains sluggish in Japan at the moment, and most local traders’ quotations show a downward trend affected by the unsatisfactory sales performance and lower raw material prices.
A trader in Tokyo offers JPY170,000/t (USD1,587/t) for 304 stainless scrap, down by JPY5,000/t (USD47/t) over last week.
According to the source, the price of stainless scrap has been decreasing from end of September and the current price is JPY5,000-10,000/t (USD47-93/t) lower than the average price of last month. Moreover, he tells Asian Metal that the sharp price decrease of nickel - the raw material also contributes to the lower stainless scrap prices in Japan. For example, the nickel closing prices on London Metal Exchange decreased from USD17,325/t on September 25 to USD15,700/t on October 17.
Another local trader quotes JPY165,000/t (USD1,540/t) for 304 stainless scrap, decreasing by JPY5,000/t (USD47/t) over last week.
According to him, the market is quite sluggish lacking the strong support from downstream demand. Moreover, buyers are cautious about placing orders seeing the frequent price decrease, so he worries that the sales volume is likely to be smaller than that of last month. His sales volume was 7,000t in September, while the target one is close to 10,000t. He believes that stainless scrap prices will fall further in the remaining days of this month.
A trader in Tokyo offers JPY170,000/t (USD1,587/t) for 304 stainless scrap, down by JPY5,000/t (USD47/t) over last week.
According to the source, the price of stainless scrap has been decreasing from end of September and the current price is JPY5,000-10,000/t (USD47-93/t) lower than the average price of last month. Moreover, he tells Asian Metal that the sharp price decrease of nickel - the raw material also contributes to the lower stainless scrap prices in Japan. For example, the nickel closing prices on London Metal Exchange decreased from USD17,325/t on September 25 to USD15,700/t on October 17.
Another local trader quotes JPY165,000/t (USD1,540/t) for 304 stainless scrap, decreasing by JPY5,000/t (USD47/t) over last week.
According to him, the market is quite sluggish lacking the strong support from downstream demand. Moreover, buyers are cautious about placing orders seeing the frequent price decrease, so he worries that the sales volume is likely to be smaller than that of last month. His sales volume was 7,000t in September, while the target one is close to 10,000t. He believes that stainless scrap prices will fall further in the remaining days of this month.
