POSCO ~The purchase price of stainless steel scrap also falling in August

                                          IRUNIV 2013/07/30

 South Korea - POSCO announced the unit purchase price of stainless steel scrap in Korea on july 26.
The 304 series totaled 1,620 won (142 yen/kg in JPY), falling by 60 won/kg from what in July. The 316 series totaled 2,370 won (209 yen/kg in JPY), falling by 100 won /kg. The 400 series totaled 570 won (50 yen/kg), falling by 30 won /kg.
 With this, it became a reduce in price for 3 months in a row starting from June. It is considered that the 304 series totaled 1,710 won since June, falling by 90 won. The 316 series falling by 150 won since June. The 400 series falling by 40 won.


 In July, due to a front‐load fall in production of August, an aggressive purchase was developed from Japan, too. It was USD1350 - 1370/tonne, as the highest price in Asia (USD1250 - 1270/tonne in Taiwan).  But, it is once thought to be the correction of high price by this August's reduction in price.
 In Japan, the purchasing of high price (with a basis of 304 series stainless steel 135-140 yen/kg) of the shipper for PSS (PoscoSpecialSteel) still remains. The stainless special steel mills in Japan are immovable, except some special steelmakers. Put the summer vacation between, the largest company - NSSC may take a policy of reducing production, and there will be no raise in unit price. 150 yen of Aichi Steel is an exception. Around 145 yen of Sanyo special Steel, the common unit pre-furnacing price of NSSC etc is 130-135 yen unchanged. Nisshin Steel Steady is a step cheaper than this, 120-125 yen. Nisshin is the only cheapest pre-furnacing price in the open market.
(IRUNIV Susan)

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