Stainless scrap prices rise amid tight supply

Oct 29, 2013 | 03:25 PM | Rey Mashayekhi

Tags  stainless steel scrap, broker buying prices, processor buying prices, stainless scrap prices, London Metal Exchange, LME, nickel, Rey Mashayekhi

NEW YORK — Stainless steel scrap broker/processor buying prices for 18/8 solids and turnings rose this week, with the market feeling the effects of the London Metal Exchange’s nickel price rally and some traders noting tightness in supplies on the ground.

Processor buying prices for Type 304 solids rose to $1,410 to $1,455 per gross ton from $1,360 to $1,410 previously, while 304 turnings climbed to $1,230 to $1,275 per ton from $1,210 to $1,255.....

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