Stainless scrap follows LME north

Jul 08, 2014 | 05:29 PM | Rey Mashayekhi

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

NEW YORK — Stainless steel scrap prices have ticked upward this week on the strength of higher London Metal Exchange nickel prices, though market participants noted a "natural" summer slowdown in trading activity.

AMM’s broker/processor buying prices increased for nickel-bearing austenitic grades of stainless scrap July 7, with Type 316 solids rising to a range of $2,555 to $2,600 per gross ton from $2,525 to $2,575 previously, Type 304 solids jumping to $1,880 to $1,925 per ton from $1,835 to $1,880 and Type 304 turnings moving to $1,700 to $1,725 per ton from $1,660 to $1,700.....

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