Stainless scrap prices in the United States remained firm this week, with processors forced to control their inventories while speculating what nickel, chrome and iron prices are going to do in the months ahead.
"Nickel, chrome and iron units remain strong, and demand has not experienced a summer slowdown as of yet," according to one dealer."Scrap flow continues to be lackluster," causing processors "to ensure they have the tonnage to meet continued strong mill demand," that dealer noted. "We are just focusing on buying what we need for orders... [It] feels like you don't want to get caught short or long on this market," one processor said.Fastmarkets assessed the stainless steel scrap 316 solids, clips, broker buying price, delivered to processor Pittsburgh at $0.99-1.06 per lb ($2,218-2,374 per gross ton) on Tuesday June...