UK alloy steel scrap prices fall further on nickel drop, stronger sterling

The UK inter-merchant price for austenitic alloy steel scrap fell by £20 ($26) per tonne this week, following a further drop in the price of nickel and a strengthening of sterling, sources told Metal Bulletin on Friday April 20.

Metal Bulletin’s weekly price assessment for inter-merchant 18/8 scrap solids in the UK was £880-920 ($1,127-1,178) per tonne delivered on Friday. This compared with £900-940 ($1,152-1,204) per tonne last week. One market participant also reported hearing prices as low as £850 ($1,088) per tonne. This week, the London Metal Exchange three-month official nickel bid/offer spread fell by $295-300 per tonne week-on-week to $9,450/9,460 per tonne on April 21, down from $9,750/9,755 per tonne on April...

Published

Viral Shah

April 21, 2017

16:35 GMT

London