The 300-series stainless scrap market in the United States has picked up momentum, with processors already looking ahead to anticipated strong demand in the fourth quarter; meanwhile, 400-series prices increased despite expectations that ferrous scrap prices could fall this month.
"There is still a decent appetite for stainless scrap, but processors are being more conservative with pricing until mill demand is better defined," one dealer said.Market participants agreed that while there are planned shutdowns and production issues, September orders are already covered and most - if not all - major processors are already buying for October."The fourth quarter is looking very strong," one major processor said.Fastmarkets assessed the stainless steel scrap 316 solids, clips, broker buying price, delivered to processor Pittsburgh at $1.15-1.20 per lb ($2,576-2,688 per gross ton) on Tuesday August 31, firm...