Global – A slumbering stainless steel market has seen 304 grade scrap prices in Europe drop from US$ 1750-1800 per tonne in late July to US$ 1680-1730 some four weeks later.
Over the same period, the 316 quality has dropped from US$ 2350-2400 to US$ 2310-2360 while US$ 30-40 per tonne has been shaved from the values of 409 and 430 chrome scrap. In late August, nickel was confined to a narrow trading range of US$ 18 500-19 000 per tonne while latest figures from the International Nickel Study Group show that, against all expectations, the metal posted a surplus of approaching 12 000 tonnes for the first half of this year.
Leading analyst Heinz H. Pariser Alloy Metals & Steel Market Research has revealed that EU-28 stainless steel scrap imports from third countries slid 19.9% to 161 569 tonnes in the first quarter of this year when compared to January-March 2013 while stainless steel scrap exports retreated 17.5% to 87 762 tonnes over the same period.
The full version of Recycling International’s latest ferrous market analysis will appear in its September 2014 issue.