EUROPE ALLOY STEEL SCRAP: Effect of sharp nickel price rise muted by weak demand

The effect of a sharp uptick in nickel values on alloy steel scrap prices this week was muted by ongoing poor demand, sources told Fastmarkets on Friday January 11.

Being a key component of stainless steel, nickel prices exert considerable influence over the price of alloy steel scrap, with price movements in the former usually being reflected in a the latter in the same week.

On Friday, the three-month official bid/offer spread for nickel on the London Metal Exchange closed at $11,430/11,435 per tonne,...


Ross Yeo

January 11, 2019

18:03 GMT