Stainless scrap prices firm, higher in US

June 03, 2021 / www.metalbulletin.com / Article Link

The stainless steel scrap market in the United States firmed over the past week, with prices narrowing or strengthening across the board amid robust demand and continued tight supply.

"We are going to be cautious adjusting our buying prices to the upside until we get a feeling of how the processors are going to respond to the current market conditions," one dealer said.
The intrinsic values for stainless have been perking up, because the ferrous market is poised for a substantial increase and the chrome market now looks fairly solid for the third quarter.
And while nickel prices on the London Metal Exchange have again rebounded above $8 per lb ($17,640 per tonne), continued volatility in the nickel market could drive uncertainty in stainless scrap prices as well.

"Really not sure where to pitch it today," one major...

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