Nickel Scrap Price Rises by 320 yen/kg in Tokyo

Nickel scrap price increased by 320 yen to 2,650 yen per kilogram for new cutting grade in a week around Tokyo under high level international price of nickel ingot. The price increased to 2.4 times from 1,095 yen in the beginning of the year. Nickel price increased by US$ 2,572.24 to averaged 32,702.95 per tonne in October at settlement of London Metal Exchange from US$ 30,130.71 in September. The price was lifted by speculative purchase under strong demand for stainless steel. The price hit record US$ 34,500 on October 20. Molybdenum scrap price decreased by 50 yen to 3,000 yen per kg for new cutting grade in a week under lower international price. Tungsten new cutting scrap price is flat at 870 yen per kg. Titanium scrap is 310 yen per kg for new cutting and 230 yen for alloy grade.