Stainless scrap prices up, brokers wary

Sep 18, 2012 | 01:50 PM | Thorsten Schier

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

NEW YORK — Stainless scrap broker buying prices have been further boosted by higher nickel tags even as market sources questioned the sustainability of nickel’s rise and the strength of underlying demand.

"Prices are up but demand has not changed, and that’s a problem," one broker said.

"There’s still no business out there," a second broker agreed. "It’s not like the mills are buying like crazy. We’re being cautious with our prices until we hear something different."....

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