MT: US stainless scrap price falls despite LME nickel rise
US stainless scrap prices have softened even as nickel prices rally on the London Metal Exchange, while brokers remain cautious about holding too much inventory due to slowing end-user demand.
“We lowered our price and I’m still getting too much material,” said one stainless scrap broker, noting that dealers were more willing to sell at lower levels than anticipated. “Part of the problem is that a lot of scrap yards are now part of public companies....
