Most stainless scrap prices in the United States have moved lower week on week, with the market losing its upward momentum amid concerns over a possible second wave of Covid-19, the seasonal summer slowdown, limited supply and weakening demand.
"There has been no change in supply or demand conditions, and the London Metal Exchange cash nickel has not changed significantly from last week to warrant any price movements," one dealer said, adding that - on the upside - at least the markets have been somewhat stable."It's quiet in the marketplace, the flow is still slow in our area, and I don't expect any pick-up until September," a second dealer said.Fastmarkets assessed the stainless steel scrap 316 solids, clips, broker buying price,...