Stainless scrap prices buoyed by LME nickel

Sep 11, 2012 | 02:34 PM | Thorsten Schier

Tags  stainless scrap, scrap prices, 304 clips and solids, 316 clips and solids, Thorsten Schier

NEW YORK — Stainless scrap prices have risen in step with an increase in London Metal Exchange nickel tags over the past few days, prompting improved scrap flow.

"Some of the people (who) were holding material are starting to sell," one broker said.

Brokers are now paying between $1,635 and $1,685 per gross ton for 304 clips and solids, up an average of 2.2 percent from $1,615 to $1,635 per ton previously; and 316 clips and solids are selling in a range of $2,300 to $2,350 per ton,....

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