Stainless scrap prices continue to slide

Aug 19, 2014 | 03:59 PM | Rey Mashayekhi

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

NEW YORK — Stainless steel scrap prices continued to slide this week in step with lower nickel prices, and industry sources said there is "little sign of an upside."

AMM’s broker/processor stainless scrap buying prices fell Aug. 18 across the nickel-bearing austenitic grades for the third consecutive week, with Type 316 solids declining to a range of $2,425 to $2,485 per gross ton from $2,465 to $2,510 last week, Type 304 solids falling to $1,700 to $1,745 per ton from $1,745 to $1,790 and 304 turnings slipping to $1,525 to $1,570 per ton from $1,570 to $1,635.....

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