Austenitic alloy steel scrap prices in Europe increased this week as a result of higher nickel costs, sources told Fastmarkets on Friday June 12.
The increases came about despite low demand, which in recent weeks has countered the influence of higher nickel prices. However, this week the nickel price rises were more substantial. The price of nickel, 3 months, London Metal Exchange Daily Official, was $13,275-13,300 per tonne on July 12, up from $12,350-12,370 per tonne on July 5, an increase of 7%. "We can't ignore [the nickel...