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Japan's SUS Mills Cut Ni-Alloyed Scrap November Prices
= Down more than Yen5,000/ton from October reflecting LME nickel price drop =
SUS mills' purchasing price for nickel-alloyed stainless steel scraps (new clippings) for November deliveries is to drop more than Yen5,000/ton from the price for October to Yen120,000 - 125,000/ton delivered.

The LME nickel price went up due to the fact that some of the new projects were delayed in start-up from original schedules, reducing pressure from supply side. However, as it became more certain that world SUS production would stay almost unchanged contrary to the increase forecasted at the beginning of 2012, LME nickel price started to drop back in October.

The price cut being applied to November deliveries reflects the downward trend in the LME nickel price that directly affects nickel bearing scrap prices.
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last modified : Wed 14 Nov, 2012 [11:13]
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