Daily Steel, Stainless and Nickel Price Roundup – April 27, 2012

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Daily Steel Price Trend Roundup

With a decline of 1.1 percent on the LME to $470 per metric ton on April 26, 2012, steel billet cash prices recorded the biggest shift of the day. After two changeless days, the 3-month price of US HRC futures fell 0.4 percent to $670 per short ton.

Chinese steel prices closed flat for the day, with iron ore 58% fines from India, coking coal, and slab prices all holding steady.

Stainless Steel, Nickel and Other Inputs

On April 26, 2012, the day’s biggest mover on stainless steel markets was the price of Chinese 316 stainless coil, which saw a 1.6 percent decline. This was the third straight day of declining prices for the metal.

The price of Chinese primary nickel increased 0.6 percent. The price of Chinese 304 stainless steel scrap remained essentially flat at below $3,000 per metric ton. The price of Chinese 316 stainless steel scrap showed little movement yesterday, holding above $2,800 per metric ton. At just under $3,000 per metric ton, the price of Chinese 304 stainless coil was essentially unchanged.

For the fifth consecutive day, the price of Chinese ferro-chrome held flat; Chinese ferro-moly prices remained essentially unchanged as well.

The nickel 3-month price saw a 0.7 percent decline on the LME to $17,540 per metric ton. Also on the LME, the price of primary nickel fell 0.7 percent to $17,485 per metric ton.

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