Prices for austenitic alloy steel scrap in the UK and Europe fell this week on losses in the nickel market.
Metal Bulletin's weekly price assessment for 18/8 stainless steel solids imported into mainland Europe was ?,?1,160-1,180 ($1,355-1,379) per tonne cif main European ports on Friday July 6, down by ?,?40 per tonne from ?,?1,200-1,220 per tonne one week earlier."The double whammy of the euro strengthening against the US dollar and the nickel price falling has affected the price," one trader in mainland Europe said."The mills are also really trying to push the discount down [for nickel units in the scrap relative to the LME price]," he...