Annual Average Nickel Price
96
alloy steel, superalloys and other high-nickel-chromium alloys,
and/or specially-processed fines of high-carbon ferro-
chromium. A high scrap ratio (i.e., a high percentage of scrap
in the total charge) reduces melting time and electricity
consumption but makes final chemical adjustments to the melt
more difficult. A few foreign mills have recently dropped
their scrap ratio down to 30% or 40% because of problems in
purchasing quality scrap at a reasonable price.
Copper-nickel and superalloy scrap make up a large portion
of the remaining 15% of nickel reclaimed in the United States.
Aircraft engine manufacturers return turnings, chippings, and
similar forms of prompt superalloy scrap to superalloy
producers for remelting. Segregation of these materials by the
engine manufacturers is absolutely critical. Because of quality
control concerns, part of the obsolete superalloy scrap
generated at aircraft engine repair facilities is downgraded and
used to make stainless steel.
References Cited
Boldt, J.R., Jr., and Queneau, Paul, 1967, The winning of nickel:
Princeton, NJ, D. Van Nostrand Co., Inc., 487 p.
Cammen, Leon, 1928, Alloy steels, Chap. 6 of Principles of
metallurgy of ferrous metals: American Society of
Mechanical Engineers, p. 142-162.
Davis, H.W., 1956, Nickel, in Minerals Yearbook 1953, v. I: U.S.
Bureau of Mines, p. 837-853.
[Government of Australia], 1999, Australian national statement:
International Nickel Study Group, 9
th
General Session, [The
Hague, the Netherlands], April 21, 1999, presentation, 2 p.
Hall, A.M., 1954, Nickel in iron and steel: New York, John Wiley
& Sons, Inc., 595 p.
Hess, F.L., 1917, Nickel, in Mineral resources of the United
States 1915: U.S. Geological Survey, pt. 1, p. 743-766.
Inco Limited, 1980, Annual report—1979: Toronto, Ontario, Inco
Limited, 41 p.
———1998, World stainless steel statistics: Toronto, Ontario,
Inco Limited, October, 128 p.
———1999, Annual report—1998: Toronto, Ontario, Inco
Limited, October, 81 p.
International Nickel Study Group, 1998, World nickel statistics:
The Hague, the Netherlands, International Nickel Study Group,
v. 8, no. 11, November, p. 64-66.
Morrell, L.G., 1971, The mineral industry of Canada, in Minerals
Yearbook 1969, v. IV: U.S. Bureau of Mines, p. 163-181.
Platt’s Metals Week, 1972-98, Metals Week price handbook:
New York, The McGraw-Hill Companies, Inc.
Rudolf Wolff & Co. Ltd., 1995, Nickel, chap. 15 of Wolff’s
guide to the London Metal Exchange (5
th
ed.): Surrey, United
Kingdom, Metal Bulletin Books Ltd., p. 127-133.
Wharton, Joseph, 1897, Nickel and cobalt, in Eighteenth Annual
Report of the United States Geological Survey, 1896-97: U.S.
Geological Survey, pt. 5, p. 329-342.
Annual Average Price for 18-8 Stainless Steel Scrap
(Dollars per long ton gross weight
1
)
Year Price Year Price Year Price Year Price
1987 560 1990 927 1993 634 1996 834
1988 1,150 1991 855 1994 719 1997 808
1989 1,266 1992 728 1995 1,055 1998 600
1
To convert to dollars per metric ton, multiply by 0.984207.
Note:
1987-98, Derived from the average of the Friday consumer buying price range for 18% Cr-8% Ni scrap in bundles, solids, and clips,
Pittsburgh, PA, in American Metal Market.
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