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|Domestic Price Of Ni-Based Stainless Scrap Is Rising Gradually To Level Of Yen 90,000 / Ton|
|= After Lunar New Year Was Over, Movement To Purchase Stainless Scrap By China Is Marked|
The movement of price for nickel-based stainless steel scrap (new clippings) in Japan for January of 2009 depends on rather overseas demand than domestic demand and this aspect means to develop on exports for China and South Korea. This market situation of nickel-based stainless steel scrap is thought to be carried over to February. The actual market price of this scrap is represented by those, which have been paid by exporters for collection and have now risen to a level of Yen 90,000 - 95,000 per metric ton ex. yard. |
The fact, which LME nickel price at the 26th of January rose to US$5.264 per lb. in comparison with average price of US$4.394 per lb. in December of 2008, has become a following wind for price of nickel-based stainless steel scrap in Japan. The US shippers are already offering Sabot at US$1,200 per metric ton CIF Japan but Japanese consumers are not interested even in US$1,000 CIF.
In this meaning, stainless steel mills in Japan are not in a position to purchase nickel-based stainless steel scrap for deliveries in January and the market of this scrap has continued on a depression. However, in view of the fact that stainless steel mills purchased nickel-based stainless steel scrap at Yen 75,000 - 80,000 per metric tin delivered to mills in December of 2008, the fundamentals of price for this scrap are supposed to be on a basic tone to rise gradually. While the production of stainless steel in Japan is forecasted to continue with its cutback in February and March, it is interested in seeing how do stainless steel mills in China and South Korea move on their operations after Lunar New Year was over. At all events, China has entered into Lunar New Year from the beginning of this week and South Korea is also in holiday season for Lunar New Year. Therefore, it is marked to see how to move price of stainless steel scrap after these holidays were over.
The movements of prices for nickel-based stainless steel scrap in Japan during January 2007 to January 2009 were as per the table shown below ;
|last modified : Mon 02 Feb, 2009 [11:32]|