Europe, UK alloy steel scrap market cautious following nickel price jump

The price of alloy steel scrap in Europe and the United Kingdom increased during the week to Friday January 14 following a sharp rise in nickel costs, Fastmarkets heard.

But traders were reluctant to fully match the nickel price increase in their scrap purchase prices for fear that the nickel market will retreat again next week.

Fastmarkets’ weekly assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was €1,550-1,640 ($2,127-2,250) per tonne on Friday, up by €30-60...

Published

Ross Yeo

January 14, 2022

17:01 GMT

London