[ferro-alloys.com]US stainless steel scrap broker/processor buying prices have weakened on a recent plunge in nickel prices, with many market participants now sitting out until prices become steady again.

 

Processor buying prices for type-304 solids tightened this week to $1,345-1,390 per gross ton from $1,345-1,415 previously, while 316 solids prices dropped to $1,875-1,925 per ton from $1,900-1,950, and 304 turnings prices fell to $1,185-1,230 per ton from $1,200-1,255. The London Metal Exchange cash nickel contract closed the official session on September 4 at $13,540 per tonne.