Daily Stainless Roundup: Chinese Primary Nickel Price Drops

The price of Chinese primary nickel saw the biggest shift of the day on stainless steel and its raw materials inputs markets, dropping three percent on May 24, 2012. The price of Chinese 316 stainless steel scrap increased 1.7 percent, while holding under $2,900 per metric ton, the price of Chinese 304 stainless steel scrap was essentially unchanged.

The price of Chinese 304 stainless coil remained essentially flat below $2,900 per metric ton. Chinese 316 stainless coil held its value on Thursday at below $4,900 per metric ton.

And how did ferro-alloy prices and other nickel prices fare?

The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining above $1,300 per metric ton. The price of Chinese ferro-moly saw little movement at above $22,900 per metric ton.

On the LME, the nickel 3-month price fell 0.9 percent to $16,900 per metric ton. The spot price of nickel saw a 0.9 percent decline on the LME to $16,875 per metric ton. Indian nickel cash prices finished the day up 0.8 percent.

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