Austenitic alloy steel scrap prices widened downwards this week because of ongoing poor demand and, in the case of grade-316 material, lower molybdenum costs during October, sources told Fastmarkets on Friday October 25.
Fastmarkets' price assessment for stainless steel scrap 316 solids, domestic, delivered merchants UK, was ?1,250-1,350 ($1,610-1,739) per tonne on October 25, down by ?40 per tonne on the low side. Meanwhile, Fastmarkets' molybdenum drummed molybdic oxide 57% Mo min, in-whs Rotterdam price was $9.75-10.1 per lb on October 25, down from $11.7-11.8 per lb a month earlier, a drop of...