Stainless scrap driven higher by LME nickel

Mar 18, 2014 | 02:17 PM | Rey Mashayekhi

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

NEW YORK — Stainless steel scrap prices continued to rise across the austenitic grades this week thanks to steady demand and London Metal Exchange nickel prices that surpassed $16,000 per tonne, market sources said.

AMM’s broker/processor buying prices for Type 316 solids rose to $2,105 to $2,150 per gross ton from $2,060 to $2,105 per ton last week, 304 solids jumped to $1,635 to $1,680 per ton from $1,590 to $1,635 per ton and 304 turnings rose to $1,455 to $1,480 per ton from $1,410 to $1,455 per ton previously.....

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