Stainless Steel Scrap Prices Seen Up in Japan
on July 30th, 2009 at 7:38 amJapanese stainless steel scrap prices up
It is reported that one Japanese trader has increased the stainless steel scrap price from ¥14,000/ton to ¥164,000/ton.
Therefore, Japan’s domestic stainless steel scrap prices are also increasing, because the LME nickel price recently hits as high as US$17,000/ton on July 27th.
In the beginning of June, Japanese stainless steel makers have purchased more stainless steel scrap due to the increasing nickel price.
However, stainless steel makers are hesitated to purchase any stainless steel scrap before June because the market is still weak along with economic downturn as well. Due to rebounding demand most of Japan’s stainless steel makers are running their production capacity around 80~90 percent. They expect the market to improve for the second half of this year.
source: www.yieh.com