Stainless scrap prices in US creeping up

The stainless steel scrap market in the United States has continued to show cautious optimism, with prices inching upward amid an easing in material flows.

"The stainless train keeps rolling in the right direction," one dealer source said. "It certainly feels like there is some momentum building, but given our experience with stainless steel scrap in 2019, we are being cautious with raising our prices too much too quickly," he continued.
Meanwhile, the nickel market has remained flat, with prices on the London Metal Exchange steady in recent weeks. The LME's cash nickel price averaged $13,925 per tonne ($6.32 per lb) for the month through January 14, compared with an average $13,800.50 per tonne ($6.26 per lb) in December 2019, suggesting that nickel is not underpinning higher stainless scrap prices.

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