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...