Price rally for stainless scrap

Worldwide – Stainless steel scrap prices made significant gains over the course of March, with the 304 grade ending the month some US$ 100 higher at US$ 1520-1570 per tonne while the 316 quality advanced around US$ 50 to US$ 2030-2080.

Chrome scrap values remained unchanged from their early-March levels of US$ 410-450 per tonne for the 409 grade and US$ 510-550 for 430 material. According to traders, scrap demand from mills has been in line with normal levels.

When compared to the December 2013 low, crude stainless steel output in the EU grew more than 26% in January this year to reach 672 000 tonnes, which is only 2.1% lower than a year earlier. Indeed, 2013 as a whole will not be remembered as a glorious year for the EU’s main four stainless steel producers given that their aggregated sales – excluding those of AST in Italy – plummeted 34.4% from their 2012 levels, according to leading analyst Heinz H. Pariser Alloy Metals & Steel Market Research.

The full version of Recycling International’s latest nickel and stainless market analysis will appear in its April 2014 issue.