US stainless steel scrap prices begin year on upswing

The stainless steel scrap market in the United States has woken up at the start of the New Year, with prices moving higher on Wednesday January 3.

A rise in nickel prices has sparked renewed optimism in the stainless steel scrap market after many scrap processors and dealers saw prices fall at the end of 2017. The London Metal Exchange’s cash nickel contract closed the official session at $12,465 per tonne ($5.65 per lb) on January 3, up by 5.3% from $11,840 per tonne on December 27. Metal Bulletin sister title American Metal Market’s assessment of broker/processor buying prices in Pittsburgh puts grade 316...

Published

James Lawrence

January 03, 2018

19:32 GMT