Stainless scrap brokers lower prices

Jun 26, 2012 | 02:19 PM | Thorsten Schier

Tags  stainless scrap, clips and solids, nickel, ferrochrome, Thorsten Schier

NEW YORK — U.S. stainless scrap buying prices have weakened further as declining raw material prices and sputtering end-user demand have made market participants loath to hold too much inventory.

"We’re very, very skeptical at the moment," one broker said. "We think prices could go down another $100 (per gross ton) or more." The broker noted that in addition to nickel, prices for other stainless raw materials, such as steel scrap and ferrochrome, also were trending downward.....

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