The stainless scrap market is limping along in the United States, with little to no improvement in sight while participants remain cautious heading into year-end.
"The stainless scrap market continues to be sleepy and not waking up anytime soon," one major US processor said. "Most dealers and processors are just trying to get to the end of the year with the least amount of damage [to their earnings]." Most prices moved into tighter ranges but showed no major changes due to flat nickel prices. Fastmarkets AMM's assessment of broker/processor buying prices in Pittsburgh showed Type 316 stainless scrap solids narrowing to 72-73 cents...