Stainless steel scrap prices reverse declines

Feb 11, 2014 | 12:26 PM | Rey Mashayekhi

Tags  stainless steel, scrap, broker, processor, dealer, prices, London Metal Exchange, LME nickel

NEW YORK — Stainless steel scrap prices have rebounded after two consecutive weeks of declines, market participants told AMM, spurred by the London Metal Exchange’s nickel rally last week.

Broker/processor buying prices for Type 316 solids rose to $1,970 to $2,060 per gross ton from $1,950 to $2,015 last week, 304 solids climbed to $1,525 to $1,570 per ton from $1,500 to $1,545 and 304 turnings jumped to $1,365 to $1,385 per ton from $1,345 to $1,365 previously.....

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