SUSscrap MarketWatch 2023#4 Ni series price down widened and consignments decreased
The most severe for scrap yard dealers is always 'cargo stagnation '. This is only natural, as sales cannot be made without shipping raw scrap. Stainless steel manufacturers in the Kanto region had already started this stagnation on 13 January, but has now decided to extend it by the end of the month. This is a very severe measures for the suppliers to the manufacturer.
On the other hand, another company (only Nittetsu Stainless Steel) has announced to scrap suppliers that it will further reduce the unit price of 304 stainless steel scrap by 10 yen/kg from the 17th.
There are different views as to where the 10-yen reduction will come from, but the most orthodox pattern seems to be from a high rate of 215 yen to 205 yen. Export shippers may also see this 10-yen reduction and move from the initial 5 yen to 10-yen reduction.
(Related article) SUSscrap MarketWatch 2023#3 Ni falls and Cr slightly high
The rapid appreciation of yen (depreciation of USD) may have had an impact, but the current LME nickel market price (around USD 23,000) still indicates that the Ni valuation of 304 scrap is extremely low at around 50%. This is because there is a clear drop in demand for raw materials, as evidenced by the additional production cut at NITTETSU STAINLESS, but even so, JSP, which is affiliated with NITTETSU, has so far not stopped cargoes and has reduced its purchase limit by 30% in order to protect suppliers and distributors.
LME nickel market price ($/t) and exchange rate (yen-USD TTS)
(IRUNIVERSE YT , translated by MK)
関連記事
- 2024/05/13 LME Weekly 2024年5月6日-5月10日 銅10,000ドル台復帰、アルミ在庫激増
- 2024/05/11 丸一鋼管:24/3期決算説明会を開催:足元及び24年度見通し
- 2024/05/11 丸一鋼管:24/3期決算説明会を開催:実績
- 2024/05/10 大同特殊鋼:24/3期決算説明会を開催。25/3期は日本基準からIFASへ変更
- 2024/05/10 新日本電工:24/12期1Q決算説明会を開催
- 2024/05/10 大平洋金属:24/3期決算を発表。
- 2024/05/10 阪和興業:24/3期決算を発表。
- 2024/05/10 日本製鉄:24/3期決算説明会:今井新社長の挨拶、USスチール買収アップデートなど
- 2024/05/09 住友金属鉱山:24/3期決算説明会を開催
- 2024/05/09 日鉄ステンレス:24/3期の決算を発表