Chinese 304 Stainless Steel Scrap Prices Fall 3.7 Percent
Chinese 304 stainless steel scrap saw the biggest price shift of the day in stainless prices, dropping 3.7 percent on April 11, 2012. For the fifth consecutive day, Chinese 304 stainless coil prices held flat near $3,000 per metric ton. Chinese 316 stainless coil prices saw essentially no change for the fifth day in a row, remaining around $5,000 per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat as well.
For the fifth straight day in the ferro alloys market, the price of Chinese ferro-moly held between $22,900 and $30,000 per metric ton. Chinese ferro-chrome remained essentially flat between $1,300 and $1,350 per metric ton.
LME Steel Billet Cash Price Down Following Flat Spell
On April 11, 2012, the steel billet cash price on the LME fell by one percent and landed at $480 per metric ton, making it the day’s biggest mover in steel prices. Following three days of little change, the LME 3-month price of steel billet rose by one percent to $505 per metric ton.
Chinese raw steel prices closed flat for the day. The range of prices of iron ore 58% fines from India closed under $130 per dry metric ton. For the fifth day in a row, the price of Chinese coking coal remained essentially flat. The price of Chinese slab held flat as well.
The 3-month price of US HRC futures contract saw essentially no change for the fifth day in a row, remaining around $692 per short ton. For the fifth consecutive day, the US HRC futures contract spot price held flat at $690 per short ton.
After Three Flat Days, Cash Price of Primary Aluminum Drops
On April 11, 2012, the day’s biggest mover in aluminum prices was the LME cash price of primary aluminum, which saw a 0.2 percent decline to $2,050 per metric ton. For the fifth day in a row, the 3-month price of primary aluminum remained essentially flat on the LME at $2,089 per metric ton.
Chinese aluminum prices were flat for the day. The price of Chinese aluminum scrap saw essentially no change for the fifth day in a row, remaining between $2,600 and $2,650 per metric ton. For the fifth consecutive day, the price of Chinese aluminum billet held flat between $2,500 and $2,550 per metric ton. The price of Chinese aluminum bar remained steady as well.
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