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Japan SUS Scrap Price Up For February Deliveries
= Up Yen10,000/ton or more, reflecting the price upward trend of the scraps for export =
The price in Japan for nickel-alloyed stainless steel scraps (new clippings) for deliveries during February is firming up.

No SUS mills seem to have announced the price for scraps yet, market sources say it is becoming harder to collect scraps unless mills indicate Yen135,000 - 140,000/ton on delivered basis, which is higher by Yen10,000/ton or more than the price applied to January deliveries (Yen125,000/ton).

The price upward trend reflects the strong tone in the prices for export. Some brokers collecting scraps for export, including some speculators, are reportedly trying to collect cargoes for export by quoting a little less than Yen140,000/ton.

Current prices of "Sabot" for export mostly to China are US$1,750 - 1,770/ton CIF, up from US$1,700/ton in January. This rise in the price besides the weaker Yen is encouraging the brokers to quote the higher prices.

Weak Yen is generally welcome for the SUS mills that export 30 - 35% of their products, but the unwelcome side of the currency's depreciation came first.
last modified : Tue 12 Feb, 2013 [11:58]
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