The UK inter-merchant price range for austenitic alloy steel products rose by ?30-60 per tonne this week when the price of nickel rose sharply on concerns about further sanctions being imposed by the United States, sources said on Friday April 20.
Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK reached its highest level since July 2014 at ?980-1,040 ($1,389-1,474) per tonne delivered on Thursday, compared with ?950-980 per tonne on April 13.The London Metal Exchange three-month official nickel bid/offer spread was $14,640/14,650 per tonne on April 20. This was up sharply from $14,025/14,050 per tonne on April 13. The price had reached $15,780/15,790 per tonne on April 19, its highest level since late 2014.The nickel price was bolstered by concerns about risks of further US sanctions against key Russian firms...