Nickel volatile but stainless scrap more stable

Global – Stainless steel scrap traders have been adopting an extremely cautious approach to business amid a highly volatile nickel market. Over the past five weeks, LME nickel has fluctuated between US$ 9500 and US$ 10 700 per tonne. Uncertainty over the metal’s future course has prompted market participants to become more circumspect in their activities, especially concerning purchasing prices for scrap.

While nickel has been tracing its various ups and downs during the course of September, scrap prices have remained relatively stable.

As the month draws to a close, buying price ranges for 304 and 316 stainless steel scrap are unchanged from those quoted in Recycling International’s September issue at, respectively, US$ 1090-1140 and US$ 1450-1500 per tonne.

Chrome scrap prices are also to be found within the same ranges as five weeks ago at US$ 230-270 per tonne for the 409 grade and US$ 310-350 for the 430 quality. The restocking phase at traders’ yards has come to an end after the holiday period and these volumes are now awaiting consumers.

The full version of Recycling International’s latest Nickel & Stainless report will appear in its October issue.