Stainless scrap up; nickel volatility stirs fears

May 13, 2014 | 03:47 PM | Rey Mashayekhi

Tags  scrap, stainless steel, LME, London Metal Exchange, nickel, nickel pig iron, NPI, Rey Mashayekhi

NEW YORK — Stainless scrap prices have rebounded this week as London Metal Exchange nickel prices rallied to their highest level in more than two years, leaving scrap market participants nervous about continuing price volatility.

AMM’s broker/processor buying prices for nickel-bearing stainless scrap rose May 12, with Type 316 solids increasing to $2,465 to $2,530 per gross ton from $2,350 to $2,395 last week, Type 304 solids to $1,995 to $2,015 per ton from $1,835 to $1,860, and Type 304 turnings to $1,790 to $1,835 per ton from $1,660 to $1,680 previously.....

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