Prices for 300-grade stainless steel moved higher week on week in the United States, driven more by tightness in supply than by the intrinsic values of nickel, chrome and iron, Fastmarkets understands.
"Stagnant supply remains the driving force behind current stainless steel scrap price stability," one scrap dealer said. "Clearly, supply concerns exist and sellers finally have some leverage," he continued.Under the current supply chain, consumers are aware of the shortage of stainless scrap, as well as the shortfall in many high- and low-nickel items that go into various blends of stainless scrap."It has been a funky market so far this year, and we are hoping for some clarity going forward,"...