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|Price Of Domestic Ni-Based Stainless Scrap Rebounds Owing To Active Purchases And Scarce Cargoes|
|= Current Price Of This Scrap In June Has Risen To Higher Level Than Yen 225,000 / Ton|
Stainless steel companies of Japan once attempted on the end of May to purchase nickel-based stainless steel scrap (new clippings) at 210,000 - 215,000 per metric ton delivered to mills but this achievement was not materialized for the tightened supply of actual cargoes. The current price of nickel-based stainless steel scrap to be supplied from domestic sources of Japan has risen up to a level of Yen 225,000 per metric ton and it is supposed that dealers to collect this scrap for export to South Korea already paid Yen 230,000 per metric ton ex. yard.|
The background of this aspect is that stainless steel mills of Japan have been producing stainless steel on nearly full scale up to June and, in view of this increase of the demand for stainless steel scrap and a tightness on supply of this scrap caused by less generation of the scrap from domestic sources, the supply situation of nickel-based stainless steel scrap in Japan has tightened to a substantial extent.
As regards the circumstances surrounding nickel, LME nickel prices have suddenly rebounded and, on the other hand, Chinese mills are anticipated to maintain the structure to decrease their production of stainless steel even in July. Therefore, the nickel market is not always on one key. However, the active production of stainless steel in Japan at present and the tightened supply of nickel-based stainless steel scrap have become the factors to push up price of this scrap.
The movements of prices for nickel-based stainless steel scrap in Japan during January 2006 to June 2008 were as per the table shown below ;
|last modified : Thu 19 Jun, 2008 [10:40]|