The price of alloy steel scrap in Europe and the UK have decreased this week following lower nickel and ferrous scrap prices.
The London Metal Exchange nickel price was the main driver behind the decline, having fallen to $12,345-12,350 per tonne on April 26 from $12,690-12,700 per tonne on April 18. Austenitic alloy scrap prices, for which nickel values are the most significant influence, reacted with similar losses. In the UK, the Fastmarkets assessment for 18/8 scrap solids moved down to ?860-920 ($1,109-1,186) per tonne delivered on April 26, losing ?30-40 per tonne from the previous week. Meanwhile, Fastmarkets...