Stainless scrap prices continue their decline in October

Global – Producers’ thin order files have resulted in poor demand for stainless steel scrap and further price declines: during October, the 304 quality witnessed a drop from US$ 1070-1120 per tonne to US$ 1000-1050 while the 316 range has been clipped from US$ 1410-1460 to US$ 1310-1360.

Only from the south of Europe have higher numbers of up to US$ 1100 per tonne been heard for 304 for stainless steel. Chrome scrap prices also followed the general downtrend in steel scrap prices, with market participants paying US$ 250-290 per tonne for the 409 quality and US$ 350-390 for 430 material.

According to the International Nickel Study Group, world primary production of the metal amounted to 1.994 million tonnes in 2014 but is expected to slip to 1.954 million tonnes in 2015 and further to 1.942 million tonnes next year. Global usage amounted to 1.863 million tonnes in 2014 and is projected to climb to 1.905 million tonnes this year, followed by a consumption total of 1.965 million tonnes for 2016.

The full version of Recycling International’s latest nickel and stainless steel market analysis will appear in its November 2015 issue.