US stainless steel scrap prices mostly stagnant

The stainless steel scrap market in the United States was largely status quo this week, with most scrap dealers and processors indicating that the majority of business for this year had already been concluded and many already buying for 2020 shipments.

“With only eight weeks remaining in 2019, we need to start to see some indicators that hopes of an increase in mill orders and London Metal Exchange nickel maintaining its current level will translate into reality,” one domestic dealer source said. “I think the name of the game is keeping prices as flat as possible relative to a conservative estimate of sales and discount,” one processor said, indicating that buys can be made against future sales...

Published

James Lawrence

November 06, 2019

22:52 GMT

Pittsburgh