The stainless steel scrap market in the United States continues to weaken and most scrap companies believe this market will be lackluster through the first quarter of next year.
"It's going to be a long rest of the year," one US dealer source said. "Doesn't sound like there is much demand, and a weaker nickel, chrome and iron market is going to make it even more difficult."American Metal Market's assessment for broker/processor buying prices in Pittsburgh showed Type 316 stainless scrap solids down 3 cents per lb on the low side and a penny on the high side to 75-79 cents per lb ($1,680-$1,770 per gross ton) on Tuesday September 11. Type 304 stainless scrap solids held at 53-55 cents per lb and...