April 2012 | Stainless Steels
Scrap prices decline as demand for stainless eases: Scrap Highlights
The nickel premium rose sharply last month, however the declining LME nickel price has kept buyers away from the market as they wait to spot the bottom of the market.
Stainless steel scrap prices declined through April, with both EU and USA-origin material seeing prices falls. Solids declined 5.3% and 7.4% compared to the previous month respectively. These declines market the first declines in four months. The price declines were driven by, and eclipsed in magnitude, by the slipping of spot LME nickel prices that declined over $600/tonne (-3.2%) through March to $18660/tonne – cash nickel...
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