EUROPE ALLOY STEEL SCRAP: Grade-316 prices fall on nickel and moly costs

The price of grade-316 stainless steel scrap in the UK domestic market decreased substantially this week on lower nickel and molybdenum prices, sources told Fastmarkets on Friday November 15.

Fastmarkets’ assessment for stainless steel scrap 316 solids domestic, delivered merchants UK was £1,170-1,250 ($1,504-1,607) per tonne, down by £50-80 per tonne.
The sharp drop was driven by decreases in both the nickel and molybdenum markets, both of which are key components of grade-316 steel.

The nickel, three-months, London Metal Exchange...

Published

Ross Yeo

November 15, 2019

17:49 GMT

London