Stainless steel scrap prices in the United States declined slightly while consumer demand weakened due to maintenance outages and some production difficulties.
One stainless steel melting facility has a one-week maintenance outage scheduled for September, and another stainless mill has been experiencing some production problems, according to some scrap dealer sources. As a result, those mills have sufficient inventory on hand from previous purchases to sustain current production, and do not need to buy additional material, Fastmarkets understands. “Scrap demand, while stable, is not as robust as it had been earlier this summer, and the expected downward trend in scrap iron prices is adding some negativity to the price outlook,” one major dealer said.
Source By Metalbulletin