The price of austenitic stainless steel scrap in the European domestic market moved slightly higher this week because of tight supply, despite low demand from mills and lower nickel costs, Fastmarkets heard on Friday June 26.
Traders had by this week settled their terms with stainless steel mills for July, and in some cases had secured slightly lower nickel discounts - when traders sell to mills, the nickel component of the scrap is priced as a percentage of the LME nickel price.The exact...