Stainless scrap prices drop further

Apr 23, 2013 | 02:38 PM | Daniel Fitzgerald

Tags  stainless steel scrap, scrap demand, stainless scrap prices, London Metal Exchange, LME, nickel prices, scrap processors, scrap dealers Daniel Fitzgerald

NEW YORK — Stainless steel scrap prices have fallen further as London Metal Exchange nickel prices dropped below the $7-per-pound mark, and market participants doubt that demand will improve before the summer.

Processor/broker buying prices for 316 solids and clips dropped to a range of $2,050 to $2,105 per gross ton from $2,075 to $2,130 previously, while 304 solids and clips were between $1,380 and $1,435 per gross ton, down from $1,400 to $1,455.....

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