French stainless scrap seen rising again

Stainless steel scrap prices in France are seen increasing further in February due to raw materials increases. Prices have increased by €60/tonne ($72/t) on average this month compared to December.

Market participants tell Kallanish demand and sales have been high this month. They expect February demand to also be at high levels considering the strong performance and long lead times of finished flat products.

This month, offers for grade 316 are hovering at €1,600-1,640/t ($1,939-1,988) ex-works on average. This grade is being sold fast and is in short supply. Mills are paying €1,180-1,190/t ex-works for grade 304. Buyers add between €20-30/t for transport, sources say.

Meanwhile, nickel prices for cash buyers were at $17,796/t on 6 January and reached $17,906/t on 22 January.