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Ni SUS Scrap Purchase Price in June Starts with JPY148,000 - JPY153,000
= Price in Japan remains unchanged due to increased consumption and price hike by South Korean mills =
The price for June purchase of nickel-containing stainless steel scrap (SABOT) by Japanese Stainless Steel mills starts with JPY148,000 - JPY153,000 per ton (delivered at factory) which remains unchanged from May purchase price. The idea to reduce the price came up to the surface in the side of stainless steel mills owing to the fall in the price of LME nickel price, but the price remained unchanged from the prior month because of the increase in overall consumption during June and the increase in the purchase price by POSCO, South Korea. (Hereinafter, the price is per ton.)

LME nickel price (cash seller and settlement) exceeded US$14,400 in early May, but showed a declining trend after the middle of month and dipped below US$13,000 on June 1.

As to the consumption of stainless steel scrap, the increased consumption is anticipated because Nippon Yakin Kogyo Co., Ltd. will maintain a high production level, and also Hikari Works of Nippon Steel & Sumikin Stainless Steel Corporation and Shunan Works of Nisshin Steel Co., Ltd. will return to a normal operation after finishing the furnace repair.

Besides, the June purchase price by POSCO, South Korea is up by JPY11,000 in Japanese equivalent from the prior month, and the pickup traders for export are moving energetically. For that reason, the pickup situation of SABOT gets worse at the present moment, and some of market participants opine Japanese stainless steel mills also will increase the purchase price if LME nickel price rises furthermore.
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last modified : Mon 08 Jun, 2015 [09:29]
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