Stainless Scrap Market Report February 2013

Generally the stainless scrap market ran slowly during this month influenced by the Spring Festival holiday (February 9-15). To specify, as the Spring Festival (February 10) was coming and most downstream foundries halted purchasing materials, the domestic stainless scrap market performed slowly in the first week of this month, in line with a relatively stable price, while both traders and customers held cautious attitudes in the second half of this month in view of sharp and continuous price declines of nickel both at home and abroad, and the price decreased by RMB300-500/t.Asian Metal Copyright To specify, as the Spring Festival February 10 was coming and most downstream foundries halted purchasing materials, the domestic stainless scrap market performed slowly in the first week of this month, in line with a relatively stable price, while both traders and customers held cautious attitudes in the second half of this month in view of sharp and continuous price declines of nickel both at home and abroad, and the price decreased by RMB300-500t.Asian Metal Copyright Insiders deem the price of stainless scrap is likely to go down further next month if that of nickel keeps the downtrend, but the markdown will be limited as the current price is running at a low level.
.Asian Metal Copyright To specify, as the Spring Festival February 10 was coming and most downstream foundries halted purchasing materials, the domestic stainless scrap market performed slowly in the first week of this month, in line with a relatively stable price, while both traders and customers held cautious attitudes in the second half of this month in view of sharp and continuous price declines of nickel both at home and abroad, and the price decreased by RMB300-500tAsian Metal Copyright