Global – Despite generally low availability, stainless steel scrap prices have taken a hit since Recycling International’s previous market analysis in early June.
The 304 quality has dropped back from US$ 1300-1350 per tonne to US$ 1240-1290 while 316 material has slid from US$ 1780-1830 to US$ 1570-1620. The declines in chrome scrap prices have been more limited over the same period – to US$ 280-320 per tonne for 409 material and US$ 390-430 for the 430 quality.
Stainless steel scrap traders ‘are struggling tenaciously for every kilo of material’, it has been reported. Meanwhile, the nickel market is still being buffeted by headwinds and recorded a global surplus of 14 700 tonnes for the first five months of this year, according to the International Nickel Study Group.
EU-28 stainless steel production is set to remain depressed across July and August as most European facilities are now closed down for summer holidays, according to analyst Heinz H. Pariser Alloy Metals and Steel Market Research. When compared to January-May 2014, it is added, crude stainless steel production in the region fell 6.1% to 3.21 million tonnes in the first five months of this year.
The full version of Recycling International’s latest nickel and stainless steel market analysis will appear in its August 2015 issue.