With a decline of 3.3% to CNY $17,800 ($2,818) per metric ton on April 18, 2012, Chinese 316 stainless steel scrap recorded the biggest price shift of the day. The price of Chinese 304 stainless steel scrap fell 0.5% yesterday to CNY $18,500 ($2,929) per metric ton after three straight days with no change. After remaining flat for three days, the price of Chinese 304 stainless coil fell 0.5% on Tuesday to CNY $18,500 ($2,929) per metric ton. Chinese 316 stainless coil stayed flat at around CNY $32,000 ($5,067) per metric ton.
Stainless Steel Raw Material Inputs
The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY $145,000 ($22,960) per metric ton. The price of Chinese ferro-chrome saw little movement at CNY $8,300 ($1,314) per metric ton.
Following two days of rising prices, the primary nickel price dropped 2.5% on the LME to $17,945 per metric ton. After falling for two days, the 3-month price of nickel rose 2.4% on the LME to $18,005 per metric ton. The price of Chinese primary nickel declined 0.9% to CNY $130,300 ($20,632) per metric ton.