US stainless scrap prices down again

Stainless steel scrap prices in the United States fell on Tuesday October 5, while the cash nickel price on the London Metal Exchange dropped to $8.07 per lb.

“As expected, continued weakness in LME nickel has resulted in lower 304 stainless scrap prices,” one dealer said. Dealers and processors continued to be concerned about the ongoing lack of supply, due to manufacturers having difficulty returning to full production and the lack of generated scrap metal. “Although strong mill demand continues and scrap flow remains sluggish, there is a feeling of instability currently permeating the markets causing dealers to question if the best of 2021 is now behind them,” the first dealer said. Fastmarkets assessed the stainless steel scrap 316 solids, clips, broker buying price, delivered to processor Pittsburgh at $1.12-1.18 per lb...

Published

James Lawrence

October 06, 2021

19:51 GMT

Pittsburgh