EUROPE ALLOY STEEL SCRAP: Prices down on declining demand, scrap costs despite nickel uptick

European and UK austenitic and chrome steel alloy scrap prices decreased over the past week because of declining demand and lower ferrous scrap costs, sources told Fastmarkets on Friday May 17.

Fastmarkets’ assessment of the price for 18/8 stainless steel scrap solids in the UK domestic market was £800-900 ($1,025-1,154) per tonne delivered on Friday, down by £50 per tonne week on week. The corresponding assessment on Friday for the price of similar material in Europe widened downward by €20 per tonne to €990-1,030 ($1,108-1,153) per tonne cif European ports. The austenitic scrap price decreases came despite an upturn in the cost of nickel this week. Nickel is a key component of austenitic stainless steel and is usually the primary...

Published

Ross Yeo

May 17, 2019

18:00 GMT

London