The UK inter-merchant price range for austenitic alloy steel fell by ?10-20 per tonne this week, with the nickel price softening over the week, sources said on Friday February 23.
Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?950-990 ($1,322-1,378) per tonne delivered on Friday, compared with ?960-1,010 per tonne on February 16."While the scrap price has fallen, the supply of scrap has not really been affected by the nickel price drop," one UK trader said.The London Metal Exchange three-month official nickel bid/offer spread was $13,840/13,845 per tonne on February 23. This was down week-on-week from $14,070/14,075 per tonne on February 16."Supply is steady - it's not flying in - but the price is still at a...