Stainless steel scrap prices in the United States hit a wall this week as recent growth in the London Metal Exchange's nickel cash contract cooled off, sources told Fastmarkets AMM.
"I have my doubts that prices will continue their upward trend, and I am not as concerned about a quick retreat to the downside either," one dealer source said. "Demand is steady, supply is not excessive and export buying is still a factor," he added."[The] market remains strong, but this feels like the top," a second dealer source said.Stainless scrap prices moved very little overall, with both dealers and processors reporting few changes in the week to Tuesday March 19.Fastmarkets AMM's assessment showed...