Daily Stainless and Nickel Roundup: LME Nickel Price Improves

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Stainless Steel Raw Material Inputs

The spot price of primary nickel saw the biggest upwards shift for the day in stainless steel and inputs markets, rising 1.6 percent on the LME to close at $18,255 per metric ton on April 30, 2012. Also on the LME, nickel 3-month prices rose 1.4 percent to $18,325 per metric ton.

The price of Chinese primary nickel prices flattened out at CNY 133,000 ($21,147) following a two-day increase. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,319) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,055) per metric ton.

Chinese Stainless Steel Overview

Chinese stainless steel prices were flat for the day. The price of Chinese 316 stainless coil remained essentially flat at CNY 31,500 ($5,008) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 18,600 ($2,957) per metric ton.

Chinese 316 stainless steel scrap saw little change in its price on Monday at CNY 18,200 ($2,886) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 18,600 ($2,957) per metric ton.

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