Nickel prices are trading in a tighter range on the London Metal Exchange (LME) in March, keeping U.S. stainless scrap in a steady but soft market position. LME cash nickel contracts were virtually flat for the week ending Friday, March 9, matched by sideways scrap chrome prices and a flat iron market.
Mill prices rolled over for 300-series stainless and held steady for 400-series stainless despite a bearish outlook for the latter. Consumer scrap prices were mixed with 300-series stainless trading marginally higher and 400-series stainless holding steady. Overall, market participants remain unimpressed with the holding pattern for stainless prices.
We will continue to keep you updated on market conditions through our website news section, so check back often. Metro Alloys has successfully served its clients for more than 30 years in all market conditions and we encourage you to contact your sales representative, Marvin Fish, Gary Kamp or Abby Frank with any questions.