In Tokyo, stainless scrap price continues to decrease, Japanese stainless steel makers reduced scrap purchase prices at the beginning of April. The reduction of scrap price is seen as being affected by decrease of scrap price in LME market.
In order to secure raw materials and prevent them from being held off by scrap dealers on higher price, Japanese stainless makers rush to pay 135,000-140,000 yen per tonne for 18-8 new cutting scrap, decreasing by 10,000 yen from the highest point of March.