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.
Don't hesitate to contact us to share your input and ideas. Subscribe to the magazine or (free) newsletter.