UK domestic prices for austenitic alloy steel scrap decreased this week on slowing demand and a fall in the price of nickel toward the close of last week.
On Friday June 15, the London Metal Exchange three-month official nickel bid/offer spread was $15,330/15,350 per tonne, up slightly from $15,300/15,305 per tonne on June 8. However, this was down from the June 7 price of $15,755/15,760 per tonne, which was the highest since November 2017.In addition to this apparent peak in the nickel price, distributors pointed to the...