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.....

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