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Price of Ni SUS Scrap Again Drops to JPY170,000/Ton in Late October
= Some traders offer JPY160,000/ton with preceding price cut =
As to the price of nickel-containing stainless steel scrap (SABOT) purchased by Japanese Stainless Steel mills, major stainless steel mills announced another price cut, and the price of JPY170,000 per ton (delivered at factory) is now prevailing in the market in late October.

In the end of last week, several major stainless steel mills announced a price cut by JPY10,000 per ton for the purchase dated October 20. Many of the remaining mills announced a price cut for the purchase after October 22, and some of the mills are scheduled to resume to accept cargoes from October 22 by retaining the cargoes at the moment.

What's more, the traders in the Kanto area have already made a staged price cut, and the current purchase price is JPY160,000 (delivered at yard), which represents a decrease of nearly 16% versus September.

The reason for this price cut is the factors for price cut increased because of the anticipation of the consumption of nickel-containing stainless steel scrap going down in November in addition to the drop in LME nickel price and the improvement in yen depreciation. Decreased consumption of nickel-containing stainless steel scrap mainly arises from the regular repair of the furnace at Shunan Works of Nisshin Steel Co., Ltd. being scheduled during 5th to 18th of November and a certain major electric furnace mill being scheduled to have production curtailment in November by 10% from the prior month.
last modified : Fri 24 Oct, 2014 [10:59]
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