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|Ni SUS Scrap Purchase Price in Early Nov Held Unchanged at around JPY125,000|
|= Hesitant price cut due to small occurrence of SABOT =|
The purchase price for nickel-containing stainless steel scrap (SABOT) in November by the stainless steel mills in the Kanto area started with around JPY125,000 per ton (delivered at factory), unchanged from October. |
Many of the buyers could not take a bold step of reducing the price because, although there were factors for price cut like the contract price of high-carbon ferro-chrome during October to December was down by US Cents 4 (per lb) from the prior period and Japanese yen was continuing to be weak against US dollar, the monthly average of LME nickel price went up and the occurrence of SABOT was decreasing.
In fact, as of the former part of October, several stainless steel mills had a tough time for procuring the products required, for which there has been a case that the export price dipped below purchase prices due to the decrease in the price at destinations. For that reason, there is a story in the market that the traders which handle the scraps for export will reduce the pick-up price from the latter half of November.
It becomes more likely that the stainless steel mills also will cut the purchase price from the latter half of November, but are lacking in the motivation to express price cut by taking the initiative on alert against this becoming an obstacle to secure required quantity. Many of stainless steel mills are waiting for the major mills taking the initiative in cutting the purchase price.
|last modified : Wed 18 Nov, 2015 [11:15]|