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Stainless Steel Mills Cut Ni SUS Scrap Price by JPY5,000-The 16th China(Guangzhou)Int'l Stainless Steel Industry Exhibition
3/17/2015 Stainless Steel Exhibition |
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Japanese Stainless Steel mills cut their purchase prices of nickel-containing stainless steel scrap (SABOT) by JPY5,000 per ton, which resulted in the November purchase price of JPY165,000/ton - JPY170,000/ton (delivered at plant) prevailing .
Many of mills cut the price by JPY5,000 - JPY10,000 in late October for the reason of decreased consumption during November, slumping LME nickel price and temporary improvement of yen depreciation. Because of that, the price is down by JPY10,000 - JPY15,000 from the beginning of October.
At the moment, such production curtailments are anticipated to take place at several mills as the periodical furnace repair at Shunan Works of Nisshin Steel Co., Ltd. from 5th to 18th of November and 10% production curtailment from the prior month at Kawasaki Works of Nippon Yakin Kogyo Co., Ltd. On the other hand, LME nickel price recovered a bit, but remains at the same level as early October, which is weak as a factor to prop up.
In terms of export of stainless steel scrap and imported scrap, it has been difficult to prop up the price. The background for the above is the import of stainless steel scrap is at a low level in South Korea and China owing to stagnating growth of steel production, and the price of imported scrap sharply drops in the U.S. due to implementation of regular furnace repair in the U.S.
-The 16th China(Guangzhou)Int''l Stainless Steel Industry Exhibition
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