Global – Substantial gains have been recorded in stainless steel scrap prices during the course of April. The 304 grade has seen a jump from US$ 1520-1570 per tonne to US$ 1710-1760 while the 316 quality has climbed from US$ 2030-2080 to US$ 2290-2340.
However, the price ranges for both 409 and 430 chrome scrap remain unchanged at, respectively, US$ 410-450 and US$ 510-550 per tonne. Key factors have been rising nickel prices and improving stainless steel prospects.
At Heinz H. Pariser Alloy Metals & Steel Market Research’s recent 38th Xanten Stainless Steel Seminar, it was suggested that global stainless production could surge 8.1% this year to 41.642 million tonnes and a further 6.7% in 2015 to 44.427 million tonnes.
The full version of Recycling International’s latest nickel & stainless market analysis will appear in its May 2014 issue.