Japan's stainless steel scrap exports declined during Sep '14

TOKYO (Scrap Monster): The recent data published by the Japanese Ministry of Finance (MoF) indicates that stainless steel scrap exports from the country declined during the month of September this year.

Japan’s exports of stainless steel scrap during Sep ’14 totaled 6,090 tons, falling by 2.1% when compared with the exports during the previous month. The country had exported 6,220 tons of stainless steel scrap during August this year. However, the average export prices jumped higher by 5.2% over the previous month to ï¿¥161,245 per ton during September this year. The cumulative exports during the initial nine-month period from January to September this year totaled 80,759 tons, MoF data said.

On the other hand, Japanese mills have announced further cuts in stainless steel scrap purchasing prices. According to industry sources, the November purchasing prices of Sabot stainless scrap has been lowered by ï¿¥5,000/ton. As demand expected to fall further, the country’s stainless steel scrap purchasing prices are likely to decline further. Several Japanese mills are reported to be holding their purchase in anticipation of a further price fall.

Nisshin Steel Company Limited has scheduled the regular furnace repair works at Shunan Works between 5^th and 18^th November. Also, production cuts are being announced by certain electric furnace mills in the country. This should lead to sharp fall in demand for nickel containing stainless steel scrap in the country.