Stainless steel scrap prices in France have increased slightly compared to last month, but the hike is less than initially expected.
The price increase is attributed to low material availability as well as rising costs of key raw materials like molybdenum and volatile nickel prices.
French mills are paying €1,480-1,580/tonne delivered for grade 304 stainless steel scrap this month. The wide range is due to some producers' reluctance to accept the significant price increases seen in other European markets.
Grade 316 stainless steel scrap is fetching around €2,780-2,800/tonne delivered on average, as shortages and high molybdenum prices continue to impact this grade.
While molybdenum prices have been rising globally, nickel prices for cash buyers were extremely volatile in December, reaching over $30,000/tonne before falling to $29,750/tonne on January 4th.
Overall, the stainless steel scrap market in France appears to have stabilized, with prices increasing only moderately compared to initial expectations.
In summary, French stainless steel scrap prices have flattened out, with only a slight month-on-month increase, as the market grapples with supply constraints and volatile raw material costs.
