The stainless steel scrap market continues to show signs of a downturn.
“It’s not about the nickel market right now. The yen is almost certain to appreciate, and more importantly, demand is low. Exporting is going to be difficult, especially if domestic manufacturers reduce production, which will further weaken the market. I anticipate a drop of 5 to 10 yen in September,” explained a Chinese stainless steel scrap dealer.
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