Global – Stainless steel scrap prices have headed significantly higher since our previous report in mid-June, but the increases do not fully reflect the scale of the gains made by LME nickel to well beyond US$ 10 000 per tonne. The volumes of scrap available from traders is still low while demand from stainless steel mills continues to be sluggish.
For the 304 scrap quality, the price range has climbed from US$ 1060-1110 per tonne in mid-June to US$ 1200-1250 while 316 material has posted a gain from US$ 1460-1510 to US$ 1600-1650 over the same period.
Chrome scrap values have profited from higher steel scrap prices and have advanced from US$ 270-310 per tonne to US$ 310-350 for the 409 grade, and from US$ 360-400 to US$ 380-420 for 430 material.
According to Roskill Pariser Alloy Metals & Steel Market Research, EU-28 stainless steel scrap imports from third countries soared 27.5% year on year to 99 997 tonnes in the first quarter of 2017. EU-28 stainless steel exports amounted to 63 599 tonnes in this year’s first quarter.
The full version of Recycling International’s latest Nickel & Stainless report will appear in its 5/2017 issue.