Stainless scrap prices in the United States continued to inch up despite slightly reduced scrap requirements from the consuming mills given the year-end holiday season and maintenance shutdowns.
Demand remains solid, however, and stainless scrap prices have continued to move higher. Sources credited solid nickel values on the London Metal Exchange, an uptrend in the ferrous scrap market for November, firm chrome prices for the quarter and increasingly tight supply resulting from sustained demand for the increase."The market has been pretty flat this week, not much movement on prices but up when it has moved. Seems like the processors still are in need of scrap, so they are being pretty aggressive," one dealer said.Fastmarkets assessed the stainless steel scrap 316 solids, clips, broker buying price, delivered to processor Pittsburgh at...