Demand lull weighs on US stainless scrap mart

摘要

The stainless steel scrap market in the United States was largely flat to lower this past week due to slack demand, with gains in nickel failing to provide relief in the face of weakening ferrous scrap and ferro-chrome prices. “The fact that prices for the 300 [stainless steel] grades are struggling despite London Metal Exchange nickel hovering around $8 [per lb] clearly illustrates the lack of demand and adequate supply of scrap currently,” one major domestic dealer source said. “Apparently demand is weaker. [The price of] nickel goes up and the price of [300-grade] stainless goes down a couple more cents,” a second dealer said.