UK alloy steel scrap prices narrow on nickel fall, stronger sterling

The UK inter-merchant prices for austenitic alloy steel scrap narrowed downward by £10 ($12) per tonne this week, following a drop in the price of nickel and a strengthening of sterling, sources told Metal Bulletin on Friday March 17.

Metal Bulletin’s weekly price assessment for inter-merchant 18/8 scrap solids in the UK was £940-970 ($1,175-1,212) per tonne delivered on Friday. This compared with £940-980 ($1,175-1,225) per tonne last week. The London Metal Exchange three-month official nickel bid/offer spread fell by $265-270 per tonne week-on-week to $9,940/9,950 per tonne on March 24.