With a decline of 3.3% 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 as well, after three straight days with no change. After remaining flat for three days, the price of Chinese 304 stainless coil decreased by 0.5%. Chinese 316 stainless coil stayed steady, finishing above $5,000 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, staying shy of hitting $23,000 per metric ton. The Chinese ferro-chrome price saw little movement, holding above $1,300 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%.