3-Month Nickel Price Falls 3.5%, Chinese Stainless Prices Follow Suit

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With a decline of 3.5 percent on the LME to $17,805 per metric ton on April 17, 2012, the 3-month price of nickel recorded the biggest shift of the day. The price of Chinese primary nickel remained pretty much even, hovering below $20,900 per metric ton.

Looking at ferro alloys, the price of Chinese ferro-chrome held steady, in the $1,300 per metric ton range. The price of Chinese ferro-moly was unchanged as well, staying in the neighborhood of $23,000 per metric ton.

Chinese stainless steel prices closed mixed. After three straight days of no change, the price of Chinese 304 stainless steel scrap decreased by 0.5 percent; the Chinese 304 stainless coil price fell 0.5 percent as well. The price of Chinese 316 stainless coil stayed steady, around the $5,000 per metric ton range. The Chinese 316 stainless steel scrap price fell 0.5 percent after two days with no change.

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