The price of austenitic alloy steel scrap in the UK and Europe increased sharply over the past week because of rising nickel prices and improving demand from stainless steel mills, sources told Fastmarkets on Friday October 23.
Fastmarkets' weekly price assessment of stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?950-980 ($1,245-1,284) per tonne on Friday, up by ?70-90 from ?860-910 per tonne a week ago.The London Metal Exchange official three-month nickel price was $15,740 per tonne on October 22, having hit an 11-month high of $16,101 per tonne on October 21. These prices compare with $15,400 per...