Stainless steel scrap mill buying prices have shown mixed moves
for February, market participants told AMM.
Material tightness and
stronger London Metal Exchange nickel contracts have pushed
nickel-bearing grades higher, market sources said, while lower
ferrous scrap prices have forced non-nickel-bearing grades
Consumer buying prices
for Type 316 solids increased to $2,045 to $2,095 per gross ton
from $2,000 to $2,050 in January, 304 solids rose to $1,560 to
$1,635 per ton from $1,525 to $1,590 and 304 turnings jumped to
$1,385 to $1,435 per ton from $1,340 to $1,390.
buying prices for ferritic stainless scrap grades dropped, with
430 bundles moving to $600 to $630 per ton from $620 to $650
previously and 409 bundles to $525 to $555 per ton from $545 to
three-month nickel contract averaged $14,137.84 per tonne
($6.41 per pound) in January, up 1.2 percent from $13,976.50
per tonne ($6.34 per pound) in December. However, ferrous scrap
prices have headed in the opposite direction, with
AMMs Midwest Ferrous Scrap Index for No. 1 heavy
melt falling to $385.86 per ton in February, down 7.7 percent
from $417.95 the previous month (
amm.com, Feb. 10).
"The mills have
offered a little bit better pricing (for 300-grade material).
They lowered their discount on stainless," one processor source
said. "But its still very difficult buying scrap. Weather
is a big issue, and then theres the infusion of a new
buyer with Outokumpu (Stainless USA LLCs ramp-up at its
Calvert, Ala., facility)."
what we need right now. Its tight. ... Eventually
itll balance out. We went through a time when production
was very light on the mill side, and now its picked up
and that scrap needs to get back into the cycle," a second
processor source said. "Its going to be tight for a
while. And the weather hasnt helped."