Stainless steel scrap market activity in France is becalmed due to low prices being paid by mills, Kallanish learns from merchants. A similar situation is happing in other European countries were mills are refusing to pay the nickel price increases of the past weeks.

The European market for finished stainless products is showing some uncertainty. Prices are stable in the distribution sector but demand there is also fluctuating, Kallanish notes.

“Demand is not very high at the moment but we certainly cannot afford to sell so low. Mills are proposing to buy at the prices that we pay when we purchase material,” a merchant comments. Some merchants are deciding not to sell at current prices and to wait until direction is clearer. While mills and merchants negotiate, most sources believe however that mills’ purchasing prices are about to rise.

Grade 304 material in France is at €1,050-1,070/tonne ($1282-1306/t) delivered. Prices for type 316 scrap are slightly higher this month also due to surging molybdenum prices. The range for 316 is €1,450-1,470/t delivered, sources suggest. Nickel prices are at $12,300/t.