NEW YORK Stainless scrap
processor buying prices are unchanged as market participants
await April orders, while some dealer prices have fallen on
Processor buying prices for 316
clips and solids remain in a range of $2,175 to $2,240 per
gross ton, with 304 clips and solids at $1,475 to $1,545 per
"Everyone is waiting to see what
happens with April orders. The scrap merchants are waiting on
guidance to see where the price is going to go," one processor
"I think it will be a nervous
week or two as people wait to see where prices go. Were
at the cusp of April business, though I personally expect it to
be no better than March," a second processor said.
"Lead times are not so good
right now; you cannot forecast more than 10 days or two weeks
out. That lack of forward transparency makes all
decision-making rather tenuous," he added. "Scrap guys are used
to doing that, but the producers arent set up to do that.
Theyve got to buy forwardthey cant just turn
it on and off."
The Passover holiday this week
might also have a bearing on activity, a third processor
"I also see less scrap coming
in, so I think the dealers probably have other metals
theyll take care of right now. I suspect stainless will
sit on the sidelines for a little bit," he said.
Meanwhile, dealers buying
prices for 316 solids and clips fell to 78 to 80 cents per
pound from 79 to 81 cents, and 304 solids and clips fell to 52
to 54 cents from 53 to 55 cents.
"I just lowered the price to
what I can sell it for and still maintain a margin," one dealer
The cash nickel contract ended
the London Metal Exchanges official session at $16,950
per tonne ($7.69 per pound) March 26, up 2 percent from $16,610
per tonne ($7.53 per pound) March 19.