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 at CNY 131,500 ($20,866) per metric ton.

Looking at ferro alloys, the price of Chinese ferro-chrome held steady at CNY 8,300 ($1,317) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,008) 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 to CNY 18,500 ($2,935) per metric ton. The price of Chinese 316 stainless coil stayed steady at CNY 32,000 ($5,077) per metric ton. The price of Chinese 304 stainless coil fell 0.5 percent to CNY 18,500 ($2,935) per metric ton. The Chinese 316 stainless steel scrap price also fell 0.5 percent to CNY 18,300 ($2,903) per metric ton after two days with no change.

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