Stainless scrap broker/processor buying prices have risen
slightly as a bump in nickel pricing prompted some buyers to
Prices for 304 solids
rose to a range of $1,185 to $1,255 per gross ton from $1,175
to $1,230 previously; 304 turnings moved up to $1,075 to $1,120
per ton from $1,050 to $1,100; 316 solids increased to $1,835
to $1,905 per ton from $1,825 to $1,880; and 409 turnings rose
to $310 to $360 per ton from $290 to $340.
The cash nickel
contract on the London Metal Exchange closed the official
session July 23 at $13,975 per tonne ($6.34 per pound), up 4.4
percent from $13,380 per tonne ($6.07 per pound) July 15.
"Prices are edging
up," one processor source said. "People are getting excited
about the nickel rise. We dont think its a
long-term trend, but some companies have been a bit more
active. Maybe they think this is the bottom and theyre
going to go for it."
"Nickel and copper has
gone up a little bit, and that definitely has helped us out.
Were just trying to stay competitive," a second processor
However, some market
participants reported little discernible change in sentiment or
activity, despite the rise in nickel pricing.
quoted anybody this week," one dealer said. "Were no
longer even selling it; were just buying it, baling it,
briquetting it and putting it down. If you can afford to sit on
it, youre better off; theres no point in giving it
Dealer buying prices
were unchanged, with 304 solids in a range of 40 to 42 cents
per pound f.o.b. Pittsburgh.