Soft demand sinks stainless scrap tags

Aug 05, 2014 | 02:46 PM | Rey Mashayekhi

Tags  stainless scrap, scrap prices, LME, London Metal Exchange, nickel prices, Outokumpu Stainless USA, Rey Mashayekhi

NEW YORK — Stainless steel scrap prices have fallen considerably this week due to lower London Metal Exchange nickel prices, freer scrap flows and subdued demand from melters, according to market participants.

AMM’s broker/processor stainless scrap buying prices dropped Aug. 3 across the nickel-bearing austenitic grades. Type 316 solids fell to $2,485 to $2,530 per gross ton from $2,530 to $2,555 last week; Type 304 solids to $1,790 to $1,835 per ton from $1,835 to $1,860; and Type 304 turnings to $1,615 to $1,660 per ton from $1,635 to $1,680.....

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