The price of nickel-containing stainless steel scrap (SABOT) to be purchased by Japanese stainless steel mills in March 2014 has been put in a strong anticipation of price increase based on the increased demand and tightness in supply of spot goods. However, respective stainless steel mills are in the atmosphere of taking a wait-and-see attitude for watching others' movements, and it seems to be in the latter half of this week that the market for March will become clear.|
While the production of stainless crude steel in March being anticipated to be up from the prior month, respective mills are understood to secure the domestic scraps because the price of imported stainless steel scrap (SABOT) exceeds JPY160,000 at the moment and the foreign exchange market is unstable.
But, the cargo collection becomes difficult due to snow damage during February, and there is a tight feeling in the supply of spot goods. Because of this, the purchase price in March by stainless steel mills is most likely to come close to JYP150,0000 per ton delivered at customer's factory, and is anticipated to be surely up from JPY145,000 - JPY147,000 of the purchase price in February by respective mills.