The stainless steel scrap market in the United States continued to inch up slightly for the 300-series grades with buying becoming more difficult due while participants wait for higher prices.
"Seems like the market is looking for some more push in either direction before moving again," one US dealer source said."Quiet buying week with people at [the Institute of Scrap Recycling Industries convention in Los Angeles]," one major processor said.Fastmarkets AMM's assessment for the 300-series grades in Pittsburgh showed Type 316 stainless scrap solids widening upward by a penny to 76-80 cents per lb ($1,702-1,792 per gross ton) on Tuesday April 9. Type 304 solids increased to 56-57 cents per lb from 52-56 cents previously, and Type 304 turnings rose to 50-52 cents...