Consumer and broker/processor buying prices for 300-series
stainless scrap have fallen again as market participants brace
for a particularly slow summer.
Consumer buying prices
fell to a range of $2,200 to $2,250 per gross ton for Type 316
solids from $2,300 to $2,350 previously; $1,550 to $1,600 per
ton for 304 solids, down from $1,625 to $1,675; and $1,400 to
$1,450 per ton for 304 turnings from $1,450 to $1,500.
Waning consumer and
end-market demand is likely to keep trading activity and prices
in a lull over the summer, market participants told
melted sparingly over the last four to six weeks, so we
havent needed to be in the market. For the foreseeable
future, its just going to be slow," one consumer source
nothing spectacular by any means," a second consumer source
said. "Demand isnt through the roof, and well
probably have the same production levels as last month."
A processor source
noted that demand is unlikely to pick up in July and August,
with many consumers traditionally conducting planned
maintenance and lowering production rates over the summer.
very dicey for next month. Things are not looking good," a
second processor source said.
broker/processor prices for 316 solids have dropped to $2,000
to $2,065 per ton from $2,040 to $2,100 previously, and 304
solids have fallen to $1,345 to $1,410 per ton from $1,365 to
"There are limited
opportunities, and the reality is setting in for dealers who
have been holding onto material that theres nothing to
wait out for," one dealer said.
A second dealer cited
the influence of declining nickel prices, with the London Metal
Exchanges cash nickel contract ending the official
session June 11 at $14,495 per tonne ($6.57 per pound), down
4.3 percent from $15,140 per tonne ($6.87 per pound) June 4 and
the lowest close for the contract since July 2009.
Dealer prices were
unchanged, with 304 solids steady in a range of 48 to 50 cents