Stainless Steel Scrap Price: Trends and Influencing Factors in 2024
2024-09-15
Stainless steel scrap price: Trends and influencing factors in 2024
Stainless steel scrap is an important category of secondary raw materials whose price and market trends can have a significant impact on both the industrial sector and individual sellers. In May 2024, the price of nickel on metal exchanges reached more than 21,550 USD/t. However, this wave of price increases was short-lived, and the price of nickel soon returned to its previous level. Since the price of stainless steel scrap is directly related to the price of nickel, the prices of this scrap have remained relatively stable.
Stainless steel scrap price by country
According to the website scraprice.com, the highest purchase prices for stainless steel scrap on September 15, 2024 were in the UK. More than 1,600 EUR per ton of this scrap metal can be obtained in this country. This shows that the UK market is one of the most profitable places to sell stainless steel scrap.
The next country with high purchase prices is Turkey. Here, a ton of stainless steel scrap can be sold for over €1,500. Turkey is also showing strong interest and demand for this type of secondary raw material, but prices are still slightly lower than in the UK.
We see a similar situation in Germany, where the purchase price of stainless steel scrap is around EUR 1,500 per ton. The German market also remains strong and attractive, but differences between countries can be attributed to various factors, including transport costs, market demand and local economic conditions.
Price stability and forecasts
Although nickel prices and their fluctuations have a direct impact on stainless steel scrap prices, we have recently seen these prices remain relatively stable. Although the price of nickel has reached highs, it appears to have returned to normal levels in the long run, and stainless steel scrap prices have not changed accordingly.
Stainless steel scrap prices will continue to be dependent on nickel price dynamics. However, taking into account the current trends and the market situation, it can be assumed that large sudden price fluctuations should not be expected in the near future.
The price of stainless steel scrap is a significant indicator that can affect both the industry sector and individual sellers. Currently, the highest prices can be found in the UK, followed by Turkey and Germany. The stability we are seeing in the market is a positive sign that while nickel prices may fluctuate, the price of stainless steel scrap remains relatively stable. By monitoring these trends, you can better plan your actions and make informed decisions about the sale and purchase of secondary raw materials