Stainless steel scrap prices in the United States rose again over the past week amid big gains in the ferrous market and while nickel prices have continued to hover just above the $8-per-lb ($17,640-per-tonne) threshold.
"We can thank the iron market for the latest stainless price increase, especially since the London Metal Exchange nickel continues to struggle to move further to the upside," one dealer said.At the same time, market participants indicated that the continued tight supply of stainless scrap and nickel alloys has been keeping prices higher than many processors would like. Currently, demand at the consumers is very good, putting additional pressure on supply and stainless steel...