Ni and Co Scrap Prices Continue Declining in Tokyo

The market price of high grade nickel scrap maintained downtrend around Tokyo in the first week of August. The price downed by 80 yen to 970 yen per kilogram to reflect overseas market decline, which became below 1,000 yen per kg for the first time since November 2003. The market price of cobalt based scrap declined as well. The market prices of molybdenum and tungsten based scrap were set unchanged in weak tone.Monthly average of nickel settlement at London Metal Exchange was US$ 22,549 per tonne in June and US$ 20,160 in July. LME nickel maintains weak in August. High grade nickel scrap price followed the trend.The market price of satellite, cobalt based scrap, decreased by 550 yen to 2,010 yen per kg. International cobalt price is declining. A Japanese dealer source said the market price would continue down.Titanium scrap price was raised by 10 yen per kg for new cutting scrap and alloy scrap since international sponge price surged up.