Stainless steel scrap market price increased for SUS304 grade products in Tokyo and Osaka under tight supply. The scrap generation is low level due to slower demand for the products while the scrap export price to China is more than domestic price. The scrap market price increased by 20,000 yen per tonne when the dealers try to secure materials under tight supply. Nippon Steel & Sumikin Stainless Steel increased the scrap purchase price by 30,000 yen per tonne for November after the hike for October. Domestic stainless steel makers reduce the output while they have high level scrap inventory. Some makers try to secure stainless scrap from offshore source to avoid high priced domestic scrap.
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Japan Steel Scrap Composite Prices (Sangyo Press)
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