UK alloy steel scrap prices up by $50-63 on nickel recovery

The UK inter-merchant price range for austenitic alloy steel scrap jumped by £40-50 ($50-63) per tonne this week, after the recent recovery in the nickel price, sources told Metal Bulletin on Friday February 10.

Metal Bulletin’s weekly price assessment for inter-merchant 18/8 scrap solids in the UK was £930-950 ($1,165-1,190) per tonne delivered on Friday, down from £880-910 ($1,103-1,140) per tonne last week. The London Metal Exchange three-month official nickel bid/offer spread rose by $220-240 per tonne week-on-week to $10,430/10,460 per tonne on February 10, up from $10,210/10,220 per tonne on February 3. The nickel price has risen from a seven-month low of $9,420/9,430 per tonne on January 27, after the Philippines’ Department of the Environment & Natural Resources (DENR) drew up suspension or cancellation orders for mines responsible for 49% of the country’s...

Published

Viral Shah

February 10, 2017

17:30 GMT

London