The stainless steel scrap market in the United States seems to have cooled off slightly over this past week because demand for September was slightly weaker, but the bellwether Type 304 stainless solids price continued to increase.
"It feels like some of the processors are holding back on prices. It seems like there is one buyer every week chasing units [of 304 stainless scrap] and paying higher than everyone else," one dealer said. "Very little change in prices this week, with the Labor Day holiday. But with October right around the corner and the nickel market firming, it could get interesting in a couple of weeks," one processor said.Fastmarkets assessed the stainless steel scrap 316 solids, clips, broker buying price, delivered to processor Pittsburgh at $1.15-1.20 per lb ($2,576-2,688 per...