LONDON Stainless steel
scrap prices continued to fall in the United Kingdom last week
on the back of declining demand and falling nickel prices.
Trading was noticeably slower, a
market source told AMM sister publication Steel
First, with no major uptick expected as the summer
At least one scrap merchant was
buying stainless scrap and holding stock in the hope of higher
prices to come.
The market mirrors the situation
in the United States, where plunging nickel prices continue to
drag down the domestic market (
amm.com, April 23).
The London Metal Exchange three-month nickel contract ended
the official session May 2 at $14,850 per tonne, down 9.7
percent from $16,450 a month earlier.
A version of this article was first published by AMM sister
publication Steel First.