Japan stainless scrap price to rebound – Japanese stainless steel mills have announced plans to raise domestic stainless steel scrap purchasing prices, triggered by tightening scrap supply. Mills are expecting to buy at ￥220,000/ton in September, a price rejected by suppliers. Transaction prices are projected to be at ￥240,000/ton. Scrap buying prices have decreased by ￥20,000/ton for August.
Turkey’s scrap market improving - Turkey’s scrap market is showing signs of improving, but scrap import prices keep declining.
Last week, Turkey’s mills started to raise their scrap prices, which strengthened the domestic market. However, the scrap import prices remained unchanged. In addition, domestic demand for scrap still keeps strong that quotation for HMS I scrap increases to US$462/ton. The domestic scrap supply could only meet 20 percent of the total mills demand.
Source: www.yieh.com