The UK inter-merchant price for austenitic alloy steel scrap has risen by ?20-40 per tonne over the past week, following an increase in nickel values, sources told Metal Bulletin on Friday May 18.
Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?1,000-1,040 ($1,352-1,406) per tonne delivered on Friday, compared with ?960-1,020 per tonne on May 11."UK mill demand has been holding [steady], while supply has been reasonable - some sellers have cashed in, but others are waiting for a higher price," one UK trader said.Scrap demand from Outokumpu's UK stainless long products mill was reported to be strong, market participants told Metal Bulletin last week.This week, the...