A few interesting insights are provided by argusmedia and Pete J. Stavretis in the article Stainless gains momentum through 2021. A current outlook for the coming year.
US stainless steel scrap: prices remain high
U.S. stainless scrap prices are widely expected to remain high through the first quarter of 2021, supported by a combination of tight supply and high raw material costs.
Scrap prices for 304 and 316 above 2018 levels
US prices for 304 stainless scrap exceeded 68¢/lb on December 15 for the first time since April 2018. 316 stainless scrap prices were estimated to be as high as 88¢/lb, the highest since August 2018.
Stainless industry recovers
The stainless steel industry has gradually recovered from the Covid 19 cuts and shutdowns, and most market participants are optimistic about the new year.
Scrap shortage and raw material costs major challenges
Market participants cited scrap shortages and rising raw material costs as the main factors affecting the start of the new year, with the difficulty of securing sufficient truckloads highlighted.
Scrap supply shortages
Recently, U.S. stainless steel processors and producers have faced supply shortages of stainless steel scrap. Any shortage of secondary nickel units is likely to increase consumption of primary nickel, driving up raw material costs. As a result, some purchasers have placed bids in the market to obtain readily available austenitic scrap.
Source: argusmedia.com
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