Stainless scrap prices continue slide

Oct 23, 2012 | 04:08 PM | Thorsten Schier

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

NEW YORK — Stainless scrap prices have taken another tumble as continuing slack demand takes its toll on processors’ appetite for the material.

"(Mill) orders for next month look horrible in terms of tonnage," according to one processor.

One mill buyer confirmed that he had bought next to no stainless scrap in October and would likely buy little in November.

As a result, some processors reported only being out in the market for little tonnage at the moment, while others are only buying at lower prices.....

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