The price of stainless scrap in Europe is being boosted due to LME nickel price breaking US$20,000/ton.

So far, the market prices of stainless scrap 18/8 are prevailing at US$1,873/ton in UK.

According to European traders, it is expected that the demand for stainless scrap in March will keep growing, up by 20 percent from February.  The stainless scrap market in Europe currently is in a tight supply, but the demand remains strong so that the price is soaring constantly.

Courtesy www.yieh.com

Mixed Magnetic Stainless Steel Scrap 0.14    0.27 lbs USD
Magnetic Stainless Steel Turnings 0.07    0.14 lbs USD
Mixed Non Magnetic Stainless Steel Scrap 0.50    0.67 lbs USD
309 Stainless Steel Scrap 0.72      0.96 lbs USD
310 Stainless Steel Scrap 1.13     1.51 lbs USD
316 Stainless Steel Scrap 0.83     1.10 lbs USD
321 Stainless Steel Scrap 0.55     0.74 lbs USD
330 Stainless Steel Scrap 0.86     1.15 lbs USD
Non Magnetic Stainless Steel Turnings 0.26     0.51 lbs USD
Irony Non Magnetic Stainless Steel Scrap 0.20    0.40 lbs USD
Nickel Scrap 4.85     6.47 lbs USD

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As of September 26, 2008 –  

Mixed Magnetic Stainless Steel Scrap 0.10 0.19 lbs USD
 Magnetic Stainless Steel Turnings 0.05 0.10 lbs USD
 Mixed Non Magnetic Stainless Steel Scrap 0.71 0.95 lbs USD
 309 Stainless Steel Scrap 1.06 1.42 lbs USD
 310 Stainless Steel Scrap 1.78 2.38 lbs USD
 316 Stainless Steel Scrap 1.25 1.66 lbs USD
 321 Stainless Steel Scrap 0.89 1.19 lbs USD
 330 Stainless Steel Scrap 1.33 1.78 lbs USD
 Non Magnetic Stainless Steel Turnings 0.23 0.47 lbs USD
 Irony Non Magnetic Stainless Steel Scrap 0.35 0.71 lbs USD
 Nickel Scrap 5.03 6.71 lbs USD
 Nimonic Scrap 3.78 5.04 lbs USD
 Inconel Scrap 3.53 4.70 lbs USD
 Ni 60 Scrap 2.91 3.88 lbs USD
 Hastelloy C 2.77 3.69 lbs USD
 Hastelloy X 2.23 2.98 lbs USD
 Invar Scrap 1.79 2.39 lbs USD
 Element Scrap 0.89 1.49 lbs USD
 Nickel Plating Racks 1.23 2.46 lbs USD
 Nickel Catalyst Scrap 0.04 0.07 lbs USD
 90/10 Cupro Nickel 4.48 5.97 lbs USD
 80/20 Cupro Nickel 3.92 5.22 lbs USD
 70/30 Cupro Nickel 3.36 4.48 lbs USD
 Monel Scrap 2.80 3.73 lbs USD
 Cobalt Scrap 19.69 26.25 lbs USD
 Stellite Scrap 11.81 15.75 lbs USD
 Stelloy (HS 27) 7.09 9.45 lbs USD
 Cobalt Catalyst Scrap 0.17 0.35 lbs

Mixed Non Magnetic Stainless Steel Scrap 0.71 0.95 lbs USD
309 Stainless Steel Scrap 1.06 1.42 lbs USD
310 Stainless Steel Scrap 1.78 2.38 lbs USD
316 Stainless Steel Scrap 1.25 1.66 lbs USD
321 Stainless Steel Scrap 0.89 1.19 lbs USD
330 Stainless Steel Scrap 1.33 1.78 lbs USD
Non Magnetic Stainless Steel Turnings 0.23 0.47 lbs USD
Irony Non Magnetic Stainless Steel Scrap 0.35 0.71 lbs USD
Nickel Scrap 5.59 7.45 lbs USD
Nimonic Scrap 4.19 5.59 lbs USD
Inconel Scrap 3.92 5.22 lbs USD
Ni 60 Scrap 3.23 4.31 lbs USD
Hastelloy C 3.07 4.10 lbs USD
Hastelloy X 2.48 3.31 lbs USD
Invar Scrap 1.99 2.65 lbs USD
Element Scrap 1.00 1.66 lbs

Domestic supply by the EU mills was down in the first quarter by almost 4 percent compared to the same period in 2007. Inventory building in the second half should lead to a figure for the full year at a similar level to that in the previous twelve months.

Japanese production was 10 percent lower, year on year, in the first trimester. Further output curbs are being put in place in mid-year. However, inventory replenishment may occur in the latter months – leaving the annual crude outturn 4 percent down on 2007.

US domestic output held up quite well during the first quarter. This situation should continue for the remainder of this year. The import threat was limited in the early months but may increase slightly. Nevertheless, we predict a similar outturn in 2008 to that recorded in the previous year.

For complete article go to http://www.meps.co.uk/editorial6-08.htm  

The relentless upward movement in EU prices continues. Customers are obliged to accept the new higher third quarter values demanded by local producers. Prices of imported strip into Europe are still increasing this month, although less material is entering the region. There is relatively little steel from China due to the pending anti-dumping investigations. Output from domestic mills for July/September deliveries appears to be restricted.

Demand from end-users in Germany has slowed slightly because they are not sure they can pass on their increased costs to their customers in a weakening economic climate. Although service centres are making good profits at present, they are keeping stocks down. Third country imports are available, albeit not always at attractive prices. Buyers are not keen to place orders for deliveries so far ahead, when they feel current prices are probably at their peak for this cycle.

In the French market, inventories are quite low and not expected to recover in the near term because of a lack of overseas availability and restricted supply from domestic sources. Prices continue to increase for third quarter deliveries. Sales are only average, although demand from the auto sector has improved.

Strip mill prices have registered further sizeable rises in Italy this month and the trend is expected to continue to the end of the summer as import volumes drop away. As hot rolled coil prices escalate, they are pushing the rest of the flat products with them. Stocks are depleted at present because customers are reluctant to risk losing money if the price trend goes into reverse.

For complete article visit http://www.meps.co.uk/keynote6-08.htm