Demand Remarkably Declines for Ni Series Stainless Steel Scrap

Japanese stainless steel makers hold surplus scrap of nickel series stainless steel they procured in June. Scrap dealers are suffered from stagnant shipment of nickel series stainless steel scrap then. The background is that stainless steel makers reduce production of nickel series stainless steels worldwide when substitutive demand is encouraged for chromium series stainless steel and nickel containing pig iron.The market price of chromium series products is less than a half compared with nickel series products. Chromium series products are substitutively applied to general purposes such as building materials. Domestic and overseas stainless steel makers hurry up to change some of their cold rolling lines for chromium series. In China the demand is increasing for nickel containing pig iron as a substitution for nickel series stainless steel scrap.Japanese stainless steel makers procured much scrap at the highest price in June since the market price of nickel series stainless steel scrap reflects the averaged nickel price in previous month. The makers still hold surplus scrap. Then scrap dealers have large inventories at their sites.