The UK inter-merchant price range for austenitic alloy steel scrap rose by ?20 per tonne this week as nickel prices rose sharply, sources said on Friday January 26.
Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?920-960 ($1,310-1,367) per tonne delivered on Friday, compared with ?900-940 per tonne on January 19.The London Metal Exchange three-month official nickel bid/offer spread was $13,765/13,770 per tonne on January 26, its highest level since May 2015. This was up sharply week-on-week from $12,605/12,610 per tonne on January 19.However, the impact of the nickel price rise has been tempered by the weaker US dollar.The official exchange rate was ?1 to $1.4242 on...