Stainless scrap prices up, margins thin

Jan 17, 2014 | 03:44 PM | Rey Mashayekhi

Tags  stainles steel, stainless scrap prices, nickel prices, London Metal Exchange, LME, Rey Mashayekhi

NEW YORK — Stainless steel scrap mill buying prices continued to rise this month, with numerous industry participants saying that tightness in available material and escalating raw material costs have driven up the market and thinned margins.

AMM’s consumer buying price for Type 316 solids increased to $2,000 to $2,050 per gross ton from $1,950 to $2,000 at the end of December; 304 solids jumped to $1,525 to $1,590 per ton from $1,455 to $1,500 in the same comparison; and 304 turnings rose to $1,340 to $1,390 per ton from $1,270 to $1,320. Prices for 400-grade material increased by $10 per ton, with 430 bundles rising....

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