Nickel price on the LME began to fall last week and this downward situation remains this week, therefore many suppliers are starting to offer lower price of stainless steel scrap.

Meanwhile, most of stainless steel mills have slashed or halted their purchasing for stainless steel scrap at present.

India mills are reducing their purchasing prices everyday in the light of nickel price on the LME and same thing happened in China's market. Accordingly, there were few deal made in these two markets.