NEW YORK Stainless scrap
dealer buying prices have fallen, matching recent broker
"(Brokers) just dont want
(material) right now. Some of them are taking themselves out of
the market with their pricing," one dealer said.
The brokers that are in the
market reportedly have adopted a take-it-or-leave-it
"Some people are looking for
material, but it depends on whether I want to sell it at these
levels," a second dealer said.
Brokers lowered their prices
recently to pare inventories as end-user demand has dwindled
over the summer (AMM, July 4).
Dealer buying prices for 304
clips and solids in the Pittsburgh area are now between 49 and
50 cents per pound, down from 52 to 53 cents previously, while
316 clips and solids are trading at between 80 and 81 cents per
pound, down from 82 to 83 cents.
A third dealer said he recently
tried lowering his 304 clips and solids buying prices to the
low-40-cents-per-pound range, only to find little interest from
sellers. "We just werent getting much material," he said,
prompting him to raise prices closer to AMMs
One positive in the market is
that consumers reportedly have stockpiled less scrap than in
previous years, making it unlikely that they can decrease
purchase volumes much further.
"The order books arent
that great, but (consumers) dont have a tremendous amount
of inventory," a fourth dealer said.