Prices for alloy steel scrap in the United Kingdom and Europe were unchanged this week despite falls in the price of both ferro-chrome and nickel.
The third-quarter ferro-chrome benchmark settled at $1.38 per lb this week, a drop from the second-quarter price of $1.42 per lb.Meanwhile, the London Metal Exchange three-month official nickel bid/offer spread was at $14,795/15,000 per tonne on Friday, down from $15,320/15,325 per tonne on June 22.Early in June, market participants had generally expected a substantial decrease in the ferro-chrome settlement although in recent weeks higher spot prices meant they had revised these predictions higher; the...