The day’s biggest mover on stainless and raw material inputs markets, Chinese 316 stainless steel scrap, broke away from a three-day static phase with a 1.1 percent jump on May 9, 2012. The price of Chinese primary nickel, meanwhile, saw a 0.3 percent decline.
Chinese 304 stainless steel scrap stayed flat at under $3,000 per metric ton. Also under $3,000 per metric ton, the price of Chinese 304 stainless coil was essentially unchanged. The price of Chinese 316 stainless coil was unchanged as well above $5,000 per metric ton.
The prices of Chinese ferro-chrome and Chinese ferro-moly saw little movement on May 9, 2012.
The cash price of Indian primary nickel weakened by one percent, while on the LME, the 3-month price of nickel increased 0.2 percent to $17,465 per metric ton. The LME primary nickel price increased 0.2 percent to $17,405 per metric ton.