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Japan Ni-Alloyed SUS Scrap May Price Down Yen5,000/Ton
= NSSC presented the price cut based on the lower nickel price =
NSSC cut its purchasing price for nickel-alloyed stainless steel scraps (new clippings) for May deliveries by Yen5,000/ton from the price for April, effective May 8. Background of the price-cut was that NSSC wanted to let it known to the market that the scrap price would, according to NSSC's forecast, decline based on the recent weak trend of nickel price.

Current prices in the market in May are however still firm at Yen145,000 - 150,000/ton delivered to the yard as quoted by a major merchants, mainly because of drop in quantity collected due to the early-May holidays. The same range of prices are quoted also by a major exporter of scraps to Korea.

Based on the current market prices as mentioned above, a calculatory price of the scraps for delivery to the mills would be Yen150,000/ton or more, meaning there is a certain difference from the price after the recent price-cut of Yen5,000/ton by NSSC.

On the other hand, it cannot be denied that the mills have a good reason to guide a down trend in the market price, since SUS product prices have dropped to a 4-month low, nickel price have been in a weak trend after the early-May at LME that basically determines SUS scrap prices.
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last modified : Wed 16 May, 2012 [10:31]
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