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Ni SUS Scrap Purchase Price in Kanto in Feb Starts with JPY130,000/135,000
= Remains unchanged from January on alert against recovery in LME Ni price and difficult cargo booking =
As of February 7, Stainless steel mills in the Kanto area offer the purchase price (delivered at plant) of nickel-containing stainless steel scrap (SABOT) at the range from JPY130,000 to JPY135,000 per ton. The price starts with the situation of remaining unchanged from January. (Hereinafter, the price is per ton)

Some of special steel mills in the Chugoku area and some of the pickup traders in the Kanto area lowered the price by JPY5,000, which however no other companies followed, and the pickup traders for export are also taking a cautious attitude toward price cut.

Such reasons for the above are provided as (1) LME nickel price currently made a recover to the US$10,300 range and there is an anticipation of a further rise, (2) As the prices of steel products went up from January, there is a feeling of resistance to price cut, (3) The fear has been voiced that the price cut will lead to the decrease in pickup volume to itself and (4) Movements in the Asian market including China where Chinese New Year holidays were just over (January 27 - February 2) are still on a weak note.

Albeit the price was cut in advance in the market, some of the pickup traders have trouble in cargo booking, and therefore some of the market participants forecast the price cut of JPY5,000 won't get established and the price will come back to the former level in the middle of the month.
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last modified : Tue 14 Feb, 2017 [10:57]
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