Stainless scrap prices mirror nickel moves

SPOKANE (Scrap Monster): Stainless steel scrap prices have remained at depressed levels over recent weeks despite appreciable volatility within the nickel market, with the metal’s value fluctuating between US$ 8200 and US$ 9700 per tonne before settling around the US$ 8600 mark in the first full week of June.

Stainless steel scrap prices have mirrored these moves - but within a tighter range - and currently stand at US$ 1030-1080 per tonne for the 304 grade and US$ 1330-1380 for the 316 quality. Chrome scrap prices, meanwhile, have gained some ground over recent weeks to arrive at US$ 230-270 per tonne for 409 material and US$ 320-360 for the 430 quality.

According to the International Nickel Study Group, world primary production is expected to fall yet again this year to around 1.913 million tonnes from 1.989 million tonnes in 2014 and 1.983 million tonnes in 2015. As for primary usage of nickel, this totalled 1.873 million tonnes in 2014 and 1.89 million tonnes in 2015 but is expected to grow to 1.962 million tonnes this year.

Courtesy: www.recyclinginternational.com