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Japanese nickel based stainless steel scrap price bounce back from bottom

21 Nov 2007 11:23 reported by Margaret Yeh

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In order to rush domestic nickel based stainless steel scrap resources, Japanese distributors have raised their purchasing price to ¥316,000/ton.

Comparing to the early July, the price has hiked by around ¥100,000/ton. It shows that the price of nickel based stainless steel scrap obviously stands still at ¥310,000 /ton level.

In the main time, Japanese export on stainless steel scrap to China and South Korea is getting more active. According to analysis, the stainless steel mills back to production from November, therefore it pushed the price of stainless steel scrap up.

With European and USA’s stainless steel markets recovering, some of oversea traders forecast the price of nickel will increase steady. It could reach to US$40,000/ton.

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