Stainless steel scrap dealers and processors in the United States are keeping prices within a very tight range, expressing little trust in the current market.
"We are treading water at the moment with no movement in prices in any direction. I don't feel that we are on stable footing, with prices being vulnerable to any economic or political event or non-event that may arise," one major US dealer source said. American Metal Market's assessment of broker/processor buying prices in Pittsburgh shows Type 316 stainless scrap solids up a penny on the low side to 85-89 cents per lb ($1,904-1,994 per gross ton). Meanwhile, Type 304 stainless scrap solids dropped 2 cents on the low side and a...