Stainless scrap prices fall on weak demand

Oct 09, 2012 | 01:31 PM | Thorsten Schier

Tags  stainless scrap, scrap prices, 304 clips and solids, 316 clips and solids, 430 bundles and solids, 409 bundles and solids, Thorsten Schier

NEW YORK — Processor buying prices for stainless steel scrap have fallen amid weak domestic mill demand and a downward trend in raw materials pricing.

"We all got the news last week from the mills that orders are down," one processor said of the reason for the recent price fall.

"I don’t think some of the mills are going to take as much tonnage (this month) as they originally intended," a second processor said.

A mill buyer confirmed that he had been in the market for significantly lower volumes this month due to a reduced melt schedule.....

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