Nickel drives stainless scrap price fall

Jul 22, 2014 | 02:00 PM | Rey Mashayekhi

Tags  stainless scrap, scrap prices, London Metal Exchange, LME, nickel, Type 304, Type 316, Rey Mashayekhi

NEW YORK — Stainless steel scrap prices dropped slightly this week, mainly due to lower terminal market nickel prices and freer scrap flows amid a summer slowdown in activity, according to market participants.

AMM’s broker/processor stainless scrap buying prices declined July 21 across the nickel-bearing austenitic grades. Type 316 solids now stand at $2,530 to $2,555 per gross ton, down from $2,575 to $2,600 per ton previously; Type 304 solids decreased to $1,835 to $1,880 per ton from $1,905 to $1,925; and Type 304 turnings decreased....

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