Stainless steel scrap prices for processors and for consumers have continued to decline in the United States, with chrome prices falling while the nickel market has held mostly steady.
"It is difficult to be optimistic when all you hear is negative news surrounding the stainless steel scrap environment," one dealer source said, citing lower chrome values and a stalled nickel market, along with adequate supply to meet consumer demand.Fastmarkets AMM's assessment of broker/processor buying prices in Pittsburgh showed Type 316 stainless scrap solids falling by 2 cents on the low side and 3 cents on the high side to 70-72 cents per lb ($1,568-1,613 per gross ton) on Tuesday October 9. Type 304 stainless scrap solids moved down by 4 cents on the low side and by 3 cents on the high side to 48-50 cents per lb. And Type 304 stainless scrap turnings narrowed, gaining...