Raw materials price fall drags down stainless scrap

2018-06-24 13:46:59

Stainless steel scrap prices in Italy and France are seen decreasing in new July contracts by €30-40/tonne ($34.6-46.2/t) compared to June values, merchant sources tell Kallanish. This is mainly because of falling nickel prices, along with those for other raw materials.

After a long period at elevated levels and relative stability between May and June, nickel prices have begun to see-saw and lost almost $1000/t on 19 June to $14,540/t for cash buyers. Nickel was at $13,800/t for a cash buyer on 10 May and had risen to $14,830/t on 25 May. On 13 June prices had risen further to $15,170/t. Molybdenum prices are also falling while those for chromium are recovering but from low levels, Kallanish hears.

In June French transaction prices for grade 304 scrap in France are at €1,170-1,200/t delivered while Grade 316 is at €1,620-1,640/t ex-works. Italian prices are €100/t higher due to lower availability and higher quality.