Italian stainless steel scrap prices are rising significantly, in line with European values and increasing nickel values that are contributing to push up finished product.
304 and 316 grade stainless steel scrap are increasing by €100/tonne ($121) on average month-on-month depending on quality and tonnage.
304 is being sold at €1,440-1,500/t delivered. Grade 316 remains in short supply and is sold this month at €1,860-1,920/t delivered, also depending on quality and quantity.
After dropping in March and April, nickel prices are climbing. Offers for nickel cash buyers were at $16,778/t on 8 April and reached $17,404/t on 14 May, Kallanish is told.
Like last month, demand for finished stainless products in Italy remains particularly strong, and prices are increasing for flats, tube and long products.
Natalia Capra France