Prices for 300-series stainless steel scrap moved up once again in the United States, but some processors said that prices were too high, resulting in shrinking margins.
One major processor indicated that it is "hard to get your bearings in a market like this" and that prices were still too high "given muted mill appetite."One stainless consumer has reported some production problems, resulting in a reduced raw material purchase for August and providing some relief to the continued monthly supply shortages."People dropped prices very quickly last week after looking at some of the headwinds," one dealer said.One of those headwinds was nickel, where prices had fallen early this month. The London Metal Exchange's nickel cash contract has already rebounded somewhat, however, jumping to $19,505 per tonne ($8.85 per lb) on Monday August 16 from $18,718 per tonne ($8.49...