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...