300-series stainless scrap prices sink

Jul 11, 2013 | 02:47 PM | Daniel Fitzgerald

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

NEW YORK — Consumer buying prices for 300-series stainless scrap have plunged to their lowest level since June 2009, prompted by falling nickel markets and lackluster demand, although 400-series scrap prices have risen.

Buying prices for 316 solids dropped to $1,950 to $2,050 per gross ton from $2,200 to $2,250 previously. Prices for 304 solids dropped to $1,425 to $1,475 per ton from $1,550 to $1,600 previously, the lowest level since June 2009 when prices were at $1,300 to $1,325 per ton. The price range for 304 turnings also fell to $1,275 to $1,325....





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