EUROPE ALLOY STEEL SCRAP: Austenitic prices weaken on lower nickel costs, weaker demand

Austenitic alloy steel scrap prices in Europe and the United Kingdom weakened this week because of further falls in nickel prices, sources told Fastmarkets MB.

The three-month official nickel price on the London Metal Exchange was $11,900/11,925 per tonne on Friday May 10, down from $13,180/13,200 per tonne a month earlier. This drop of 10% over the preceding month was not initially tracked by austenitic scrap prices because of good demand from alloy scrap from mills. But demand in...

Published

Ross Yeo

May 10, 2019

17:56 GMT

London