European alloy steel scrap prices continued their upward trajectory this week on the back of further gains in the nickel market.
Having fallen throughout the second half of 2018, nickel prices have risen largely unchecked since the turn of the year. This, in turn, has pulled up austenitic alloy scrap prices, with nickel being the primary alloy component in these grades of stainless steel. In Europe, stocks of 18/8 scrap are also on the low side and there is strong buying competition among traders. This has resulted in...