Alloy steel scrap prices were influenced a range of factors in the week ended Friday January 18, including divergent pricing trends for key alloy components, poor demand and changing currency values.
The result of this was that scrap price developments have shown mixed fortunes.Demand from mills remained poor and buying mills held the advantage in price negotiations, and this put downward pressure on all prices.But the price of nickel, a key component of both 18/8 and grade-316 stainless steel, has become firmer since the start of the year, following six months of losses, and traders reflected...