US stainless steel scrap prices still climbing

Stainless steel scrap prices in the United States have continued to climb following an uptick in London Metal Exchange nickel prices.

“I wish the recent price improvement was due to increased demand, but unfortunately the price improvement is solely attributable to the London Metal Exchange nickel price and speculation of potential nickel supply issues,” one dealer told Fastmarkets. “[There’s] lots of speculation in the marketplace,” a second dealer said. “It certainly is a roller coaster ride, and with all this speculation it is easy to forget that the real-world demand and supply will hit home soon with mill prices and demand not being as strong as we would like,” a major processor said. Fastmarkets’ assessment of the...

Published

James Lawrence

August 14, 2019

22:14 GMT

Pittsburgh