In China, the market for 553 grade as a low-grade product again showed a declining trend. The present price is down by CNY 200 per ton from the end of November, but there has been a panic selling by some of producers which are in a hurry to sell in-hand stocks cutting the offer price by CNY250 - CNY300. Such producers as being in hurry to sell sometimes advance the shipping schedule without asking. 

 

In Japan, both offer and contract prices are down by US$40 - US$50 per ton CIF Japan from the end of November. Contrary to the fact that major customers have already finished the procurement for the period from January to March in 2015, the orders are sporadically seen to avoid a risk of the foreign exchange loss due to ongoing yen depreciation by way of reducing the month-end stock through asking to deliver materials accordingly. Shippers also pay more attention to the fluctuation in the foreign exchange market than an ups and downs in the US dollar prices. This is because at the moment, Japanese yen became weaker against both of US dollar and Chinese yuan.