Stainless scrap exports up, but outlook dims

Jun 01, 2011 | 06:06 PM | Michael Marley

Tags  stainless scrap, exports, Commerce, BIR, Michael Wright, ELG, Barry Hunter, Hunter Alloys Danny Fischer

PHILADELPHIA — Stronger demand from China and rival Taiwan boosted exports of stainless steel scrap by nearly 40 percent in March from the four-year low seen the previous month, although the market looks to be weakening both at home and abroad.

Two U.S. traders—Barry Hunter, president of Hunter Alloys LLC, Boonton, N.J.; and Danny Fischer, an international trader at St. Louis-based Shapiro Metals—said mill purchases of 18/8 scrap were substantially lower for April than in previous months.

Likewise, Michael Wright, managing director of ELG Haniel GmbH, told industry members attending the recent Bureau of International Recycling (BIR) conference that he views third-quarter stainless steel production with great caution.....

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