US stainless scrap price uptrend cools

February 04, 2021 / www.metalbulletin.com / Article Link

After rising steadily since mid-October 2020, most stainless steel scrap prices in the United States held steady or inched lower over the past week, while dealers said sales negotiations with consumers for the month of February were under way.

"With steel prices dropping and nickel slipping today, I would assume stainless is giving back recent gains with interest this week," one dealer said.
The London Metal Exchange's nickel cash contract slipped over the past week, but the price has remained above the $8-per-lb mark. The nickel cash contract averaged $17,847.60 per tonne ($8.10 per lb) in January, up by $1,040.55 per tonne (47.2 cents per lb) from an average $16,807.05 per tonne ($7.62 per lb) in December 2020.

"Strong mill [consumer]...

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