Stainless steel scrap prices drop

Sep 04, 2013 | 02:36 PM | Daniel Fitzgerald

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

NEW YORK — Stainless steel scrap broker/processor buying prices have weakened on the back of a recent plunge in nickel tags, with many market players now sitting out until prices steady.

Processor buying prices for Type 304 solids tightened to a range of $1,345 to $1,390 per gross ton from $1,345 to $1,415 previously, while 316 solids dropped to $1,875 to $1,925 per ton from $1,900 to $1,950 and 304 turnings fell to $1,185 to $1,230 per ton from $1,200 to $1,255.....

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