The Japanese stainless scrap suppliers hiked purchasing prices for August but the price rise was unfavorable to stainless producers due to sluggish demand and production reduction in summer.
It's learned that some scrap suppliers in Kyushu region increased stainless scrap purchasing prices by ￥5,000/ton to ￥135,000/ton early this month.
However, since the Japanese stainless steel mills have started production reduction in summer, they are unwilling to purchase scrap at this moment.
Thus, the Japanese stainless scrap suppliers might face difficulty to raise price successfully.