EUROPE ALLOY STEEL SCRAP: Prices rise after nickel price jumps sharply

The UK inter-merchant price range for austenitic alloy steel scrap rose by £30 per tonne this week as the nickel price jumped upward, sources said on Friday November 3.

Metal Bulletin’s weekly price assessment for inter-merchant 18/8 scrap solids in the UK was £960-1,000 ($1,264-1,317) per tonne delivered on Friday, compared with £930-970 per tonne on October 27. “Without the sharp rise in the [London Metal Exchange] nickel price, we would probably have seen a gradual decline in prices towards the end of the year,” one UK-based trader said. The LME three-month official nickel bid/offer spread was $12,620/12,630 per tonne on November 3. This was up sharply from $11,370/11,375 per tonne on October 27. The nickel price reached...

Published

Viral Shah

November 03, 2017

14:59 GMT

London