Alloy steel scrap prices in the UK and Europe were largely stable this week with the recent surge in the price of nickel losing its momentum, sources told Fastmarkets on Friday August 16.
The price of nickel, 3 months, London Metal Exchange Daily Official, was $16,050-16,055 per tonne on August 16, compared with $15,675-15,680 per tonne on August 9, a gain of $375 per tonne.This compared with the previous week, when nickel prices increased by $1,155 per tonne, a move that drove alloy scrap prices higher.This week, the slowing down...