After Two Quiet Days, Chinese 316 Stainless Steel Scrap Price Drops
Chinese 316 stainless steel scrap saw a 3.3 percent drop on April 20, 2012, 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. The price of Chinese 304 stainless coil moved up 0.5 percent as well, while the price of Chinese primary nickel saw little movement last Friday, closing out under $21,000 per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at above $5,000 per metric ton.
The Chinese ferro-moly price held steady at above $23,000 per metric ton. The price of Chinese ferro-chrome saw little movement, holding above $1,300 per metric ton.
The LME 3-month price of nickel closed Friday at $17,670 per metric ton, breaking out of its flat run with a 0.8 percent fall. The price of primary nickel saw a 0.6 percent decline on the LME to $17,605 per metric ton.
Weekly Stainless Steel and Raw Inputs Roundup
This past week saw the primary nickel price drop 4.3 percent on the LME, closing as the biggest mover in the stainless steel market at $17,605 per metric ton. The 3-month price of nickel closed at $17,670 per metric ton after a 4.3 percent decline on the LME.
Prices of Chinese stainless steel and other inputs were mixed for the week. The week finished with no movement for both Chinese ferro-chrome and ferro-moly prices.
Meanwhile, Chinese 316 stainless steel scrap dropped 3.8 percent over the past week. Since last week, the price of Chinese primary nickel fell 0.8 percent. Chinese 304 stainless steel scrap remained essentially flat from the previous week at below the $3,000 per metric ton threshold. Chinese 304 stainless coil traded sideways last week, hovering under $3,000 per metric ton as well. Prices for Chinese 316 stainless coil remained constant, closing the week under $5,100 per metric ton.
Closing at under $2,270 per metric ton, Korean 430 stainless steel coil remained unchanged for the week. Following a steady week, prices for Korean 304 stainless coil also closed flat above $3,700 per metric ton.