EU stainless scrap import prices rise by $16-26 on weaker euro

EU import prices for austenitic alloy steel scrap rose by €15-25 ($16-26) per tonne this week, following a further weakening of the euro against the US dollar, sources told Steel First on Friday November 25.

Metal Bulletin’s weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was €1,080-1,100 ($1,140-1,161) per tonne on the day, up from €1,065-1,075 ($1,124-1,134) per tonne cif main European port a week earlier. The euro fell to €1 to $1.0551 on November 25, down from €1 to $1.0605 on November 18, according to Oanda.com. The euro has steadily fallen from a recent peak of €1 to $1.1135 on November 6. Scrap supplies fluctuated as sellers speculated on the price of nickel, according to one trader. “There tends to be one or two days of low supply when the nickel price rises – but as soon...

Published

Viral Shah

November 25, 2016

18:20 GMT

London