Stainless scrap prices up on LME’s nickel high

Apr 22, 2014 | 02:20 PM | Rey Mashayekhi

Tags  Stainless steel scrap, London Metal Exchange, nickel, prices, metal, Rey Mashayekhi

NEW YORK — Stainless steel scrap prices continued to rise this week as London Metal Exchange nickel prices have hit their highest levels in 14 months, with market participants confirming strong consumer demand for material and higher processor buying prices that continue to threaten margins heading into May.

AMM’s broker/processor buying prices increased across the austenitic grades April 21, with Type 316 solids rising to a range of $2,330 to $2,375 per gross ton from $2,260 to $2,305 last week, 304 solids strengthening to $1,835 to $1,860 per ton from $1,790 to $1,835 and 304 turnings up to $1,660 to $1,700 per ton from $1,615 to $1,635 previously.....

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