Chinese Nickel Price Dips; Stainless Market Steady

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On April 19, 2012, the price of Chinese primary nickel fell by 0.8 percent, making it the day’s biggest mover in the market of stainless steel inputs.

On the LME, the primary nickel spot price declined 0.2 percent to $17,720 per metric ton. Also on the LME, the 3-month price of nickel showed little movement on Thursday, hovering around $17,810 per metric ton.

For the fifth consecutive day, the price of Chinese ferro-chrome held flat above the $1,300 per metric ton mark. The price of Chinese ferro-moly held steady as well, above $23,000 per metric ton.

Chinese Stainless Holds

The price of Chinese 304 stainless steel scrap remained essentially flat, below $3,000 per metric ton. Chinese 316 stainless steel scrap did not move, staying above $2,900 per metric ton. The price of Chinese 304 stainless coil remained steady above $2,900 per metric ton. The price of Chinese 316 stainless coil remained even, holding above the $5,000 per metric ton mark.

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