European alloy steel scrap prices were largely unchanged in a week when the effects of low demand were countered by a slight increase in the price of nickel, sources told Fastmarkets on Friday June 21.
Austenitic scrap prices primarily track nickel costs, with supply and demand acting as secondary price drivers. But demand has been so poor in recent weeks that it has started to exert a greater influence; traders said austenitic scrap prices wold certainly have fallen this week if nickel prices had...