Japanese stainless steel scrap market price decreased for SUS304 with 18% chrome and 8% nickel due to lower nickel ingot price at London Metal Exchange and easy domestic scrap supply. Nippon Steel & Sumikin Stainless Steel (NSSC) and other stainless makers reduce the scrap purchase price by 30,000 yen per tonne on Wednesday. NSSC’s purchase price decreased by 260,000 yen through the 7 times of decreases since May. The stainless makers’ scrap inventory increases and the makers adjust the scrap arrivals when they reduce the stainless output. The scrap supply is easy in Asian market and Japanese stainless scrap export is slow. The domestic oversupply is likely to keep longer.
Japan Steel Scrap Composite Prices (Sangyo Press)03/26/2020
|20000YEN (-)||22000YEN (-)|
|178.94US$ (0.62)||196.83US$ (0.68)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)