27 November 2007
In order to rush domestic nickel-based stainless steel scrap resources, Japanese distributors have raised their purchasing price to JPY 316,000 per ton (pt) comparing to early July, when the price has hiked by around JPY 100,000pt. It shows that the price of nickel-based stainless steel scrap obviously stands still at the JPY 310,000pt level. According to analysis, Japanese export on stainless steel scrap to China and South Korea is getting more active, the stainless steel mills back to production from November, and therefore it pushed the price of stainless steel scrap up. With European and USA’s stainless steel markets recovering, some of the oversea traders have forecasted the price of nickel will increase steady. It could reach up to USD 40,000pt.
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