EUROPE ALLOY STEEL SCRAP: Prices down with market expecting coronavirus-led downturn

Stainless steel scrap prices in Europe and the UK decreased this week because traders expect the coronavirus outbreak to substantially weaken demand in the coming weeks and months, sources told Fastmarkets on Friday March 20.

Fastmarkets’ weekly assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was £700-750 ($808-866) per tonne on March 20, down by £30-40 per tonne week on week.

The coronavirus outbreak has only slightly affected demand thus far in Europe, with most stainless steel mills continuing to operate. Luxembourg-headquartered Aperam announced it will shut some of its European production sites but...

Published

Ross Yeo

March 20, 2020

17:50 GMT

London