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US stainless scrap prices follow LME nickel higher
April 16, 2014 - 11:10 GMT
London Metal Exchange
US stainless steel scrap prices have continued to rise on strengthening nickel on the London Metal Exchange, with market participants noting strong demand for material but bemoaning tightening margins and potentially steeper discounts.
Metal Bulletin sister title AMM’s
broker/processor buying prices increased across the austenitic
grades on Monday April 14, with Type 316 solids up an average
of 2.9% from last week at $2,260-2,305 per gross ton, 304
solids increasing 6.5% to $1,790-1,835 per ton and 304 turnings
gaining 5% at $1,615-1,635 per ton. LME nickel prices reached a
14-month high this week, having soared since the start of
Indonesia’s nickel ore export ban in January. The
three-month contract closed the official session...
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Euromoney Institutional Investor PLC.
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