U.S. stainless scrap prices flattened this week even as a drop in the value of chrome threatened to further weaken the stainless market. The London Metal Exchange (LME) cash nickel contract closed down 3.3% on October 2 from a week earlier, and dropped further during the October 3 session.
Austenitic (300 series) stainless scrap prices were level for the week with 304 stainless solids trading in a more narrow upward range by 2 cents. Ferritic (400 series) stainless scrap prices were largely unchanged.
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.