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|Japan Ni-Alloyed SUS Scrap July Prices Decline|
|= Down Yen5,000/ton from June on LME price softening =|
SUS mills' purchasing price for nickel-alloyed stainless steel scraps (new clippings) for July deliveries was cut by Yen5,000/ton from the price for June to Yen135,000/ton delivered in most of the July contracts.|
Some of the dealers are reportedly quoting a purchase price at Yen140,000/ton delivered, but will have to anyway lower it to follow the buyers' attitude.
This July price drop is basically due to the softened LME nickel prices, i.e. the averaged price in June for spot was US$7.502/lb, down 2.8% from May. The scrap prices are following the weakness.
Stainless mills are scheduled to lower output in summer. As far as we are informed, Nippon Yakin will be offline for maintenance from end-July to early-August.
|last modified : Fri 06 Jul, 2012 [17:02]|