Chinese 316 Stainless Steel Scrap Price Increases 2.3%

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On April 23, 2012, the day’s biggest mover in the stainless steel markets was Chinese 316 stainless steel scrap, which saw a 2.3 percent increase.

The price of Chinese 304 stainless steel scrap remained steady, below $3,000 per metric ton. The price of Chinese 304 stainless coil remained essentially flat as well, around that same price level. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat above $5,000 per metric ton.

The price of Chinese ferro-chrome saw little movement, holding at above $1,300 per metric ton. The price of Chinese ferro-moly remained essentially flat at above $23,000 per metric ton.

After falling for two days, the primary nickel price rose 0.8 percent on the LME to $17,750 per metric ton. Also on the LME, the 3-month price of nickel rose 0.7 percent to $17,800 per metric ton. The price of Chinese primary nickel gained 0.6 percent.

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