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Kallanish Kallanish

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September, 25th 2020

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AUG 11

French stainless scrap prices rise


Stainless steel scrap prices in France are increasing by €60/tonne ($70/t) on average compared to early July contracts, on account of higher nickel prices, Kallanish learns from merchants in the sector.

Demand, however, remains weak. Despite merchants being exceptionally open this month to compensating for the low activity seen during the Covid-19 lockdown, sales volumes are subdued, leading some suppliers to take holidays this week.

The poor stainless scrap demand the French market has registered over recent months is in line with the low sales and low prices of finished stainless steel long and flat products. Merchants are selling for September delivery as some mills in other European countries such as Italy skipped buying scrap in July due to low demand for their products, Kallanish is told.

Grade 304 is now fetching €960-970/tonne delivered this month, while grade 316 is sold at around €1,450-1,460/t delivered on average, sources estimate.

Nickel cash offer prices were at $14,146/t on 10 August. They were at $12,625/t on 22 June.