Stainless steel scrap prices in the United States were mostly at a standstill, with the London Metal Exchange's nickel cash average for October broadly sideways from September, even though the daily official price continues to hover above $9 per lb.
"LME nickel has recovered nicely, but it seems to have leveled off for now, which has prevented prices from moving significantly higher," one dealer said.The LME's nickel cash contract has averaged $19,370.56 per tonne ($8.79 per lb) for the month through October 26, compared with an average $19,398.41 per tonne ($8.80 per lb) in September. "Stable prices would be good, but it feels like we are on a roller coaster at the moment," one processor said.Stainless scrap prices narrowed or were unchanged this week, with processors already looking into November...