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UK 18/8 stainless steel scrap solids prices increase on nickel gains, tight supply

January 27, 2012 - 15:52 GMT Location: London

KEYWORDS: UK 18/8 stainless scrap prices , stainless steel scrap prices

Prices for UK 18/8 stainless steel scrap solids between merchants increased on Friday January 27 as London Metal Exchange three-month nickel rose and supply tightened for smaller suppliers.

18/8 stainless solids were at £1,300-1,350 ($2,038-2,116) per tonne on Friday, up from £1,250-1,300 per tonne a week ago. A deal for a larger quantity of scrap at £1,415 per tonne was also confirmed to Metal Bulletin, with the merchant explaining that prices in general were nearer to £1,380 per tonne. Merchants...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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Nickel & Tin

May 22, 2012 13:32 Base metals prices stable in LME officials
May 22, 2012 10:21 Base metals prices trade in tight ranges in LME pre-market
May 22, 2012 06:51 China nickel ore imports near 4.8m tonnes in April
May 22, 2012 04:05 LME ASIAN WRAP: Copper prices rangebound as market mulls Europe news
May 21, 2012 18:00 Australia’s IMX takes over Tanzania nickel project as it buys partner Continental

Ferrous

May 22, 2012 04:58 FACTS: China’s steel raw material imports mixed in April
May 22, 2012 03:35 Cornerstone opens second recycling facility in Okla. city
May 22, 2012 03:29 US ferrous scrap export indices launched by AMM
May 22, 2012 03:17 US ferrous scrap exporters drop East Coast buying prices
May 21, 2012 21:04 OneSteel Recycling opening fifth Maine scrapyard

Ferrous Scrap

May 22, 2012 14:41 DAILY SCRAP REPORT: Trader sells St Petersburg cargo to Turkish buyer
May 22, 2012 13:49 Indonesian buyers may halt scrap imports for rest of 2012
May 22, 2012 04:58 FACTS: China’s steel raw material imports mixed in April
May 22, 2012 03:29 US ferrous scrap export indices launched by AMM
May 22, 2012 03:17 US ferrous scrap exporters drop East Coast buying prices

Comment & analysis

COMMENT: When super-cycle poster child BHP Billiton trims its plans...

BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.
LORD COPPER: There is nothing to fear after JP Morgan loss ...

So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.
COMMENT: Keep calm and carry on?

The decision of the Indonesian government last week to uphold the ore export ban and taxes from May 6 has failed to calm the nervous market. So far, both producers and buyers have displayed an impressive tolerance level to the export uncertainty. But how long will their patience last?