The stainless scrap market in the United States has continued to deteriorate, with prices falling further this week.
"There has been no improvement in demand, no improvement in the London Metal Exchange [cash nickel price], and there is no shortage of scrap to meet the current demand," one domestic dealer source said."Seems like May was a lost month, and unless the market unexpectedly jumps... I forecast June's flows to be even worse," a second dealer said.There was little hope for any rebound with the market worsening at the onset of June. "[This...