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|Price of Stainless Steel Scrap Dips by JPY5,000 This Week|
|=Following a dip in LME nickel price=|
The market price for nickel-containing stainless steel scrap (SABOT) dipped by JPY5,000 in the 2nd week of April.|
Albeit the purchase price by major stainless steel mills was JPY145,000 - JPY150,000 per ton (ex-factory) in the 2nd week of March, the current one is JPY140,000 - JPY145,000. Last weekend, Nippon Steel & Sumitomo Metal Corporation lowered the purchase price by JPY5,000, and this week Nisshin Steel Co., Ltd., Nippon Metal Industry Co., Ltd. and Daido Steel Co., Ltd. also lowered the price by the same range.
The reason for the above is because the price came down as a result of substantial drop in LME nickel price. Although the price of this nickel (cash seller) per ton was US$17,105 on March 15, it dropped down to US$16,070 on April 9.
Besides, the current price of export-oriented items meant for China (CIF Tianjin) is US$1,550 per ton, down by US$100 from the 2nd week of March.
|last modified : Tue 16 Apr, 2013 [14:30]|