The stainless steel scrap market has little sparkle, with prices dropping slightly in the United States.
"There is not a lot of concern over business as melt rates continue to be good but there does seem to be a tangible concern on oversupply," one US processor source said. "With that realization in the marketplace, there is a tweaking of prices that are lower for this week."American Metal Market's assessment of broker/processor buying prices in Pittsburgh put Type 316 stainless scrap solids at 90-91 cents per lb ($2,016-2,038 per gross ton) on Tuesday May 8, down 2 cents overall from the previous week. Type 304...