Japan Stainless Steel Makers Raise Stainless Scrap Purchase Price

Japanese stainless steel makers increased the stainless scrap purchase price by 29,000-30,000 yen per tonne for SUS304 grade with 18% chrome and 8% nickel for November. With the purchase price hikes for 4 months in a row, the market price increased by 30,000 yen. The market price increased by total 150,000 yen around Tokyo, Nagoya and Osaka from the beginning of the year. Domestic stainless scrap demand keeps firm when stainless makers keep high level output and Japanese stainless scrap export keeps record level. The stainless makers try to secure the material by raising the purchase price. Domestic stainless steel makers announced 6,000-15,000 yen per tonne of stainless scrap purchase price increase in early October after scrap exporters increased the purchase price in September. The exporters increased the purchase price by 3,000-5,000 yen just after stainless makers raised the purchase price. The exporters increased the purchase price by 20,000-25,000 yen additionally to secure materials. Japanese stainless scrap market price is expected to increase even from the current record level under tight supply when makers keep the high level production to meet strong demand for stainless products.