At 8,856 tons, Vietnam’s purchasing of U.S. shipped to Canada during that same period in 2017. That’s 240 percent more stainless scrap than the U.S. exported 388,825 tons of stainless scrap, of which 175,463 tons went to Canada. In the first half of 2018, Pickard said the U.S. About 78 percent of stainless production in the West is made using scrap, he added, again citing the ISSF. produced 2.75 million tons of stainless steel in 2017. The recent softness in the ferrous scrap market likely will be a further drag on the stainless scrap market, Pickard said.Ĭiting a figure from the Brussels-based International Stainless Steel Forum (ISSF), Pickard said the U.S. Pricing for Type 304 stainless scrap solids also inched downward by 2 cents overall to 51 to 53 cents per pound. 20, Type 304 stainless turnings were selling for 40 to 47 cents per pound, which is 5 cents less on the low side and 1 cent less on the high side compared with Sept. 20, Type 316 stainless scrap solids were selling in a range of 72 to 75 cents per pound, which is 3 cents per pound lower on the low side and 4 cents per pound lower on the high side compared with pricing for Sept. According to American Metal Market’s ( AMM’s) assessment for broker/processor buying prices in Pittsburgh as of Sept. Source: London Metal Exchange, Stainless scrap pricing declined in the third week of September. *Average monthly settlement price, cash buyer U.S.
Cost of stainless steel per pound driver#
While ISRI notes in its “Weekly Market Report” that nickel pricing is the primary driver for stainless steel pricing, it adds that stainless scrap prices have trailed behind primary and finished stainless pricing, which also has been the case for other recyclables in 2018. Aluminum and copper decreased by 8.8 percent and by 17.1 percent, respectively. 14 decreased, with lead sinking the most at 28.7 percent and tin the least at 3.8 percent. The three-month asking prices for the other nonferrous metals-zinc, lead, copper, aluminum and tin-through Sept. 17 that the LME official three-month asking price for nickel through Sept. ISRI notes in its “Weekly Market Report” email dated Sept.
That compares with an average price of $12,872 per metric ton in January. In August, nickel averaged $13,425 per metric ton on the LME. Order online at for comprehensive pricing and fast delivery, or contact us today to learn more about how we can meet your metal needs.While nickel prices have been performing well on the London Metal Exchange (LME) as of mid-September, that performance has done little to help stainless steel scrap prices, said Joe Pickard, chief economist for the Institute of Scrap Recycling Industries (ISRI), Washington, during the association’s 2018 Commodities Roundtable Forum in Chicago in early September. We stock a range of shapes and sizes, or we can provide processing and fabrication for every product we sell. With a vast inventory of steel, stainless, aluminum, alloy, and more, we are committed to providing our customers with the metal and services they need to succeed.
We respond to the ever-changing needs of manufacturing today. Ryerson is a leading North American metal supplier that provides more than just metal. Need to explore the current stock of carbon steel? For more on galvanized steel, check out this article. Nucor recently announced a reduction to their coating adders, effective for October shipments. What is the Price of Coated Steel?Īs of September 28, the price of coated steel was roughly $953/ton, down roughly $20/ton from last month. This compares to the year-ago period when utilization was 1,684,000 net tons with a utilization rate of 76.4%. What is the Capacity Utilization Rate for Steel Mills?Īccording to the American Iron and Steel Institute, in the week ending on September 23, 2023, domestic raw steel production was 1,735,000 net tons while the utilization rate was 76.3%. The spread between PMP (plate mill plate) & HRC (hot-rolled coil) sat at around $750-$800/ton as of mid-September.
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