Stainless scrap prices follow LME nickel higher

Apr 15, 2014 | 03:50 PM | Rey Mashayekhi

Tags  stainless scrap, stainless scrap prices, nickel, London Metal Exchange, LME, ISRI, Al Goodman, Rey Mashayekhi

NEW YORK — Stainless steel scrap prices have continued to rise on the strength of London Metal Exchange nickel prices, with market participants noting strong demand for material but bemoaning tightening margins and potentially steeper discounts.

AMM’s broker/processor buying prices increased across the austenitic grades April 14, with Type 316 solids up an average of 2.9 percent from last week, 304 solids increasing 6.5 percent and 304 turnings gaining 5 percent.....

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