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|Domestic Price Of Ni-Based Stainless Scrap In Japan Hesitates To Fall Further|
|= Stainless Steel Mills Purchase This Scrap On Level Of Yen 170,000 / Ton|
The domestic price of nickel-based stainless steel scrap (new clippings) purchased by stainless steel companies of Japan had been stormed (fallen steeply) in November but a sharp fall of price for this scrap has turned to slow down on a basic tone from the beginning of December and the current prices of nickel-based stainless steel scrap purchased by stainless steel mills have been converged in the range of Yen 170,000 - 175,000 per metric ton delivered to mills. In comparison with the prices prevailed in a late part of November, these prices in December have stopped to weaken further, after having fallen by Yen 5,000 - 10,000 per ton. |
A considerable fall of domestic price for nickel-based stainless steel scrap as arisen in November is thought to have been caused by a strong intention from stainless steel mills, which wanted to rectify the extraordinarily risen price of this scrap, in addition to a continuous fall of LME nickel prices in November. Owing to the fact that stainless steel mills have successively requested to reduce domestic price of nickel-based stainless steel scrap, the market of stainless steel scrap in Japan has been confused by how to cope with this reduction of domestic price. Accordingly, the domestic price of nickel-based stainless steel scrap has fallen by Yen 25,000 per ton at its maximum compared to the high price as seen in October.
Reflecting the strengthened exchange rate of Japanese Yen against US-Dollar, the negotiations to export stainless steel produces from Japan have become sluggish and the activities to produce stainless steel in Japan, which have been sustained by the domestic demand, have been also depressed. These negative factors have influenced on domestic price of nickel-based stainless steel scrap.
The movements of prices for nickel-based stainless steel scrap in Japan during January 2009 to December 2010 were as per the table shown below ;
|last modified : Tue 14 Dec, 2010 [11:33]|