Stainless steel scrap prices drop

Jan 28, 2014 | 12:37 PM | Rey Mashayekhi

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

NEW YORK — Stainless steel scrap prices have dropped this week, mirroring falling London Metal Exchange nickel contracts and a cooling scrap buying market that had got ahead of the consumer market in recent weeks, market participants told AMM.

Broker/processor buying prices for Type 316 solids fell to $1,985 to $2,040 per gross ton from $2,015 to $2,060 previously and 304 solids slid to $1,545 to $1,570 per ton from $1,590 to $1,635, and the range for 304 turnings narrowed to $1,390 to $1,435 per ton from $1,390 to $1,455.....

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