Stainless scrap prices continue to drop

Feb 04, 2014 | 01:38 PM | Rey Mashayekhi

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

NEW YORK — Stainless steel scrap prices continued to drop this week, responding to softening London Metal Exchange nickel prices that have further cooled from January’s rally, market participants told AMM.

Broker/processor buying prices for Type 316 solids decreased to $1,950 to $2,015 per gross ton from $1,985 to $2,040 last week, 304 solids slipped to $1,500 to $1,545 per ton from $1,545 to $1,570 and 304 turnings fell to $1,345 to $1,365 per ton from $1,390 to $1,435. Type 430 solids also decreased to $450....

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