Market price of stainless scrap with 18% chrome and 8% nickel increased by 30,000 yen from mid-April to 161,000 yen per tonne for new cutting scrap and to 151,000 yen for turning scrap at dealers’ purchase price including freight around Tokyo. The scrap with 18% chrome is flat at 11,000 yen. The price is likely to keep firm. Nickel price at London Metal Exchange increased to averaged US$ 8.1 per pound in April from US$ 6.8 in March. The price keeps the record high level and exceeded US$ 9 temporally in May. Japanese stainless makers increased the scrap purchase price from April. The scrap demand recovers both at home and abroad. However, the export is slow due to higher domestic price and higher yen rate against US dollar. Carbon steel scrap price is flat at 15,500 yen per tonne for H2 grade around Osaka though the price still keeps firm.
Japan Steel Scrap Composite Prices (Sangyo Press)12/08/2023
|49900YEN (-)||51400YEN (-)|
|345.93US$ (9.15)||356.33US$ (9.43)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)