EUROPE ALLOY STEEL SCRAP: Stronger sterling offsets firmer alloy prices in UK market

UK alloy steel scrap prices were stable this week, with firmer nickel and molybdic oxide prices being offset by stronger sterling versus the euro.

With the majority of UK scrap being shipped to the European continent, any increase in the value of sterling must be balanced by lower prices in order to keep cargoes competitive. Therefore, UK scrap prices were largely stable this week. The price of 18/8 stainless scrap solids remained at £760-800 ($992-1,044) delivered, while the price of molybdenum-containing grade-316 scrap...

Published

Ross Yeo

January 25, 2019

18:33 GMT

London