Stainless scrap prices in the French market are relatively steady month-on-month despite the recent increases in raw materials and the current nickel higher prices. They have dipped only slightly merchant sources tell Kallanish.

Domestic demand for stainless scrap is said to be relatively low in a market that is extremely quiet. This mirrors the country’s struggling sales volumes and low prices for stainless steel finished products, sources say.

In early June, transaction prices for grade 304 scrap in France are now at €1,170-1,200/tonne delivered ($1,367-1,402/t). These remain slightly lower compared to the level of €1,200-1,220/t delivered registered last month. Grade 316 is also stable m-o-m at €1,620-1,640/t ex-works, sources suggest.

Nickel prices are increasing significantly. These were at $13,800/t for a cash buyer on 10 May rising to $14,830/t on 25 May. On 31 May prices for cash buyers rose further to $15,175/t, Kallanish notes.