Global – As a result of an improvement in demand from the mills, stainless steel scrap values mounted a recovery during March. Prices for the 304 grade climbed from US$ 1275-1325 per tonne in late February to US$ 1340-1390 a month later while the range for 316 material advanced from US$ 1760-1810 to US$ 1800-1850 over the same period.
But under the influence of still-low steel scrap prices and ongoing weakness in the chrome market, the ranges for chrome scrap remained unchanged at US$ 290-330 for 409 material and US$ 390-430 for the 430 grade. The upward march in LME nickel stocks appears to have been halted for the moment as deliveries and removals have balanced each other out over recent weeks.
According to leading analyst Heinz H. Pariser Alloy Metals and Steel Market Research, EU-28 stainless steel scrap imports totalled 2.992 million tonnes last year for an increase of some 16.6% over the 2013 figure, while EU-28 exports jumped 19.3% from 2.351 million tonnes to 2.807 million tonnes when making the same comparison.
*The full version of Recycling International’s latest nickel and stainless steel market analysis will appear in its April 2015 issue.
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