EUROPE ALLOY STEEL SCRAP: Supply scarce but prices plunge on lower demand

The price of austenitic alloy steel scrap in Europe plunged this week because of a sharp drop in demand, despite a lack of availability, sources told Fastmarkets on Friday March 27.

The low demand has stemmed from a mixture of closures and reduced output rates at stainless steel mills, meaning a reduction in their feedstock requirements.

In Italy, all mills have suspended operations following a government decree, while elsewhere in Europe mills are believed to have either reduced rates, or be planning reductions soon, amid the...

Published

Ross Yeo

March 27, 2020

18:20 GMT

London