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. Also on the LME, the 3-month price of steel billet saw little movement yesterday at $490 per metric ton.

Chinese steel prices closed flat for the day. Iron ore 58% fines from India ranged from CNY 860 ($136) to CNY 870 ($137) per dry metric ton. The price of Chinese coking coal continues hovering around CNY 1,780 ($282) per metric ton for the fifth day in a row. Chinese slab held its value on Thursday at CNY 4,390 ($696) per metric ton.

After two changeless days, the 3-month price of US HRC futures fell 0.4 percent to $670 per short ton. The spot price of US HRC futures contract saw little change in its price on Tuesday at $685 per short ton.

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 to CNY 31,500 ($4,995) per metric ton. This was the third straight day of declining prices for the metal.

The price of Chinese primary nickel increased 0.6 percent to CNY 131,500 ($20,855) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 18,600 ($2,949) per metric ton. The price of Chinese 316 stainless steel scrap showed little movement yesterday at CNY 18,200 ($2,886) per metric ton. At CNY 18,600 ($2,949) per metric ton, the price of Chinese 304 stainless coil were essentially unchanged.

For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,316) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($22,996) per metric ton.

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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