Nickel cash prices on the London Metal Exchange have retreated somewhat - returning to levels last seen in mid-February - but sentiment in the US stainless scrap market remains strong; participants were optimistic about improving demand and flows in the spring season, while supply tightness still supported prices.
"The start of the demolition season is now upon us and could be a big help in generating material that could help bring reality to the current pricing," one major processor said.While scrap flows typically slow down due to reduced activity related to inclement weather in winter, material generation picks up at the start of the spring and summer months."I have to think if the LME cash nickel edges down this month that the processors will have a chance to lower prices, as I believe with the better weather in the forecast, scrap flow will increase," one...