Stainless scrap processors have reported mixed sentiment from
consumers as they await September orders.
prices for Type 304 solids held steady at $1,345 to $1,415 per
gross ton. Dealer buying prices were also unchanged, with 304
solids at 40 to 42 cents per pound.
The London Metal
Exchanges cash nickel contract closed the official
session at $14,325 per tonne ($6.50 per pound) Aug. 27, down
1.6 percent from $14,565 per tonne ($6.61 per pound) Aug. 20.
The LME was closed Aug. 26 for a summer bank holiday.
A recent recovery in
nickel pricing has prompted an increase in buying activity
throughout August, although processors remain wary of taking on
too much inventory, market participants have said (
amm.com, Aug. 20).
reasonably OK indications for September orders, but
theres mixed sentiment. Some people are still very
nervous, especially when were hearing that companies in
Europe are trimming their orders," one processor said.
A second processor
claimed that "September and October orders look up somewhat,"
while a third processor said he expected consumer orders to
remain at "pedestrian levels" for September.
market demand has been impacted by a weakening of the rupee
against the U.S. dollar, a fourth processor said, adding that
"weve been having some issues selling there."