US Stainless Scrap prices fall for fourth week

NEW YORK (Scrap Monster): US stainless steel scrap prices have fallen for the fourth consecutive week amid continued weak demand from consumers and tumbling nickel prices.

According to one market source, it’s hard to find a mill buyer these days, noting that all indications suggest the current weakness is likely to continue.

“Forget the rest of the year, citing numerous fiscal and political issues—including the looming US “fiscal cliff,” the European debt crisis,” they added.