Chinese 316 stainless steel scrap saw a 3.3 percent drop on April 20, 2012, landing at CNY 17,700 ($2,807) per metric ton and making it the biggest mover of that day in the stainless steel market.
The price of Chinese 304 stainless steel scrap nudged up 0.5 percent last Friday, closing at CNY 18,600 ($2,950) per metric ton. The price of Chinese 304 stainless coil moved up 0.5 percent, landing at CNY 18,600 ($2,950) per metric ton. The price of Chinese primary nickel saw little movement last Friday, closing out around CNY 130,500 ($20,701) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 32,000 ($5,076) per metric ton.
The price of Chinese ferro-moly held steady at CNY 145,000 ($23,001) per metric ton. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,316) per metric ton.
The 3-month price of nickel closed Friday at $17,670 per metric ton, halting its flat run with a 0.8 percent fall on the LME. The price of primary nickel saw a 0.6 percent decline on the LME to $17,605 per metric ton.