Stainless scrap tags weaken on moly prices, low demand

Jul 16, 2013 | 12:43 PM | Daniel Fitzgerald

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

NEW YORK — Type 316 stainless steel scrap processor buying prices have taken another hit, with market participants citing falling molybdenum prices as a factor.

The price range for 316 solids tightened to $1,825 to $1,880 per gross ton from $1,825 to $1,900 previously, while 304 solids are unchanged at $1,175 to $1,230. Dealer buying prices also are unchanged, with 304 solids in a range of 40 to 42 cents per pound f.o.b. Pittsburgh.....

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