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Japan SUS Scrap Price Further Up
= Further up by almost Yen10,000/ton, reflecting the LME nickel price rise and the weakened Yen =
The price in Japan for nickel-alloyed stainless steel scraps (new clippings) for deliveries during February continues rising, mostly because of even weaker Yen and the sharp rise in LME nickel price due to speculative buyings on the signs of firming up of the economic in Europe and U.S.

Current prices are Yen140,000 - 145,000/ton, up about Yen10,000/ton from early last week, in other words the price rose about Yen20,000/ton from the price applied to January deliveries (Yen125,000/ton).

The SUS mills, not yet having concluded deals for February deliveries of scraps, will probably have to accept the current price or maybe higher, as the upward trend of the price is likely to continnue.
last modified : Wed 13 Feb, 2013 [12:02]
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