Stainless steel scrap prices in the United States were relatively steady over the past week despite a decline in the nickel market.
"Prices have managed to hang in there despite the huge fall in [London Metal Exchange] nickel," one domestic dealer source said.The monthly average of the LME nickel cash price was at $5.82 per lb through February 25, down by 5.4% from January's average of $6.15 per lb. This precipitous drop in the LME nickel average will also impact the March consumer prices in a very negative way."We have little optimism that prices will move higher from the current...