On May 7, 2012, the cash price of Indian primary nickel experienced the biggest change on the stainless steel and its raw materials inputs markets, rising 1.1 percent. The nickel 3-month price also saw a 1.1 percent decline on the LME to $17,425 per metric ton. On the LME, the primary nickel price fell 0.9 percent to $17,370 per metric ton. The price of Chinese primary nickel also weakened by 0.5 percent.
Chinese stainless steel closed mixed on Monday. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at above $1,300 per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around $23,000 per metric ton.
After a few days of little change, the price of Chinese 304 stainless coil jumped 0.5 percent. The price of Chinese 304 stainless steel scrap also increased 0.5 percent.The price of Chinese 316 stainless coil remained essentially flat at under $5,000 per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at under $3,000 per metric ton.