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Italian stainless scrap prices are seen increasing in September on high nickel values. However, sales volumes this month are lower than in June as all local mills, particularly longs producers, have purchased less due to the summer closures in August, market sources tell Kallanish.
Larger purchases have occurred this week, with 304 grade being sold at €1,600-1,650/tonne ($1,895-1,954) in recent days, up from €1,500-1,550/t delivered at the beginning of the month. Sales for 316 are hovering at €2,070-2,150/t delivered. The sales of the past days have been agreed for delivery by the end of August or in September, sources suggest.
Nickel prices for cash buyers were at $18,673/t on 9 July and reached $18,689/t on 14 July.
Natalia Capra France