NEW YORK Nickel and nickel alloy scrap prices have increased this month on the strength of rising nickel, copper and chrome prices, according to scrap dealers.
AMMs scrap dealer buying prices rose by 5 to 10 cents per pound across the board for nickel and nickel-copper alloy (Monel) clips, solids, turnings and castings, while nickel-chrome-iron alloy (Inconel) solids rose by 10 to 20 cents per pound.
Dealers cited improving nickel, copper and chrome prices for the higher buying prices despite a slowdown in business as the calendar year comes to a close.
"Theres not much happening because of the end of the year," one dealer source said. "I see an uptick in demand in January, but Im not sure where the pricing is going to be."
"Prices have firmed a little bit," a second dealer source said, citing rising optimism toward nickel in the global market this week. "Obviously, if demand is lower the price reflects that. But I can move stuff right now."