Stainless scrap prices continue to drop
Feb 04, 2014 | 01:38 PM
| 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 Januarys 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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