The stainless steel scrap market in the United States has strengthened as the year-end approaches, with market participants noting that the stainless and ferrous scrap price jumps this month are very unusual for this time of year, when consuming mills usually reduce their inventories for year-end financials.
"I am shocked with all the pricing. This has been one crazy year!" one large dealer said."A bizarre ending to a bizarre year," a second dealer said.Fastmarkets assessed the stainless steel scrap 316 solids, clips, broker buying price, delivered to processor Pittsburgh at 85-88 cents per lb ($1,904-1,971 per gross ton) on Tuesday December 15, up by 6.13% from 80-83 cents per lb the previous week.The assessment of the broker buying price for...