Stainless steel scrap prices in the United States have continued to rise, with the London Metal Exchange cash nickel value moving closer toward the $7-per-lb mark.
"If you told me two months ago that stainless steel scrap would be the shining light of hope in the scrap market in the late summer, I would have laughed in disbelief," one large domestic scrap dealer said."With LME nickel maintaining healthy levels and the iron market finally reversing course, stainless scrap prices continue to inch higher," the same dealer said.Fastmarkets' assessment of the 300-series grades in Pittsburgh showed stainless steel scrap 316 solids, clips, broker buying price, delivered to processor, at 73-74 cents...