The UK inter-merchant price range for austenitic alloy steel scrap fell by ?30-60 per tonne this week, after the price of nickel weakened sharply, sources said on Friday April 27.
Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-980 ($1,324-1,366) per tonne delivered on Thursday, compared with ?980-1,040 per tonne on April 20, which was its highest level since July 2014.The nickel price was briefly bolstered by concerns about risks of further US sanctions against key Russian firms - in particular, Russian nickel producer Nornickel. The London Metal Exchange three-month official nickel bid/offer spread reached $15,780/15,790 per tonne on April 19, its highest level since late 2014.This week, the LME three-month official nickel bid/offer spread was $13,990/14,000 per...