The stainless steel scrap market in the United States has cooled, although prices showed little movement over the past week despite a continued weakening in cash nickel prices on the London Metal Exchange.
The monthly average cash nickel price stood at $7.474 per lb through Tuesday March 30, down by 11.26% from $8.422 per lb in February.While there is speculation that the ferrous scrap market could decline in April, the European charge and high-carbon ferro-chrome benchmark for the second quarter brings some relief with a 32.77% increase to $1.56 per lb Cr from $1.175 per lb Cr in the first quarter.This has left stainless scrap prices largely steady for now."There has been some stabilization in pricing over the past week," one dealer source said."A little stability in the...