Stainless scrap slides amid LME nickel volatility

Jun 10, 2014 | 05:18 PM | Rey Mashayekhi

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

NEW YORK — Stainless scrap prices slipped this week due to lower nickel tags on the London Metal Exchange, although industry participants noted a calmer market after wild swings on the exchange in recent weeks.

AMM’s broker/processor buying prices decreased across the nickel-bearing austenitic grades June 9, with Type 316 solids falling to $2,530 to $2,575 per tonne from $2,575 to $2,620 previously, Type 304 solids to $1,880 to $1,925 per tonne from $1,925 to $1,970 and Type 304 turnings to $1,680 to $1,725 per tonne from $1,725 to $1,790 previously.....

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