Stainless scrap hit by weak demand, nickel tags

May 31, 2012 | 02:37 PM | Thorsten Schier

Tags  stainless scrap, scrap prices, nickel prices, 304 solids, LME, Thorsten Schier

NEW YORK — Domestic stainless scrap tags have fallen further on significantly lower nickel prices and weaker demand from stainless mills.

"There’s just nothing going on. I don’t see any upside to the market at the moment," one broker said.

Brokers in the Pittsburgh area are now paying between $1,680 and $1,725 per gross ton for 304 solids, down from $1,750 to $1,790 per ton previously. ....

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