Stainless scrap prices slip on nickel’s Sept. retreat
Oct 11, 2006 | 11:23 AM
| Michael Marley
Prices paid by specialty steelmakers for 18-8 stainless scrap have fallen by around $100 a long ton this month, in line with the modest retreat in primary nickel prices in September, but prices at dealers and major broker-processors were unchanged.
Mill-delivered prices at Pittsburgh slipped to $2,625 to $2,650 a ton, according to several industry sources, while 18-8 turnings eased to $200 below that level.
According to some traders, mills are paying a lower price for 18-8 turnings than they traditionally have been offered. Turnings usually have been priced at about $100 a tonne less than solids and clips at the mill-delivered level, a margin that does not match the 90-percent metal recovery rate that mills and processors assume when turnings are used, one trader said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.