NEW YORK Stainless steel scrap processor buying prices
have dropped along with official nickel pricing, with
processors now looking toward the second half of the year for a
pickup in orders.
Prices for 316 solids fell to $2,050 to $2,105 per gross ton
from $2,050 to $2,125 previously; 304 turnings dropped to
$1,225 to $1,275 per ton from $1,250 to $1,300 previously; 430
solids moved to $425 to $450 per ton from $450 to $485; and 409
solids to $350 to $400 per ton from $375 to $400 previously.
Dealer prices were unchanged.
The London Metal Exchanges cash nickel contract ended the
official session at $15,035 per tonne ($6.82 per pound) May 21,
down 0.5 percent from $15,105 per tonne ($6.85 per pound) May
Market participants told AMM that they dont
expect orders to improve for June, or even the rest of the
The summer doldrums have become the yearly doldrums. ...
The order book is very thin. The overall economy feels
generally positive, but I dont expect major changes in
melt rates, one processor said.
A second processor agreed. I dont think you can go
beyond month to month right now. Were hearing that the
order books arent filling in. Theres no life in the
market, he said.
The mills will keep pushing prices down as its not
competitive, and the dealers will have their say on whether
they want to sell it or not. If you dont want to commit
it, your option is to hold it, he added.
A third processor now said he is looking forward to Labor Day
in September for a pickup in business activity.