Chinese 316 Stainless Coil Moves Down 1%

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On May 25, 2012, the day’s biggest mover was the price of Chinese 316 stainless coil, which saw a one percent decline to CNY 30,700 ($4,846) per metric ton. After remaining flat for three days, the price of Chinese 304 stainless steel scrap fell 0.5 percent last Friday to CNY 18,200 ($2,873) per metric ton. After three essentially changeless days, the price of Chinese 304 stainless coil dropped 0.5 percent last Friday to CNY 18,200 ($2,873) per metric ton. The price of Chinese primary nickel increased 0.3 percent to CNY 127,200 ($20,080) per metric ton. Chinese 316 stainless steel scrap saw little change in its price last Friday at CNY 17,600 ($2,778) per metric ton.

The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,310) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($22,890) per metric ton.

Indian nickel cash price closed at INR 946 ($17) per kilogram. Following a couple days of improvement, prices fell by 0.6 percent. On the LME, the 3-month price of nickel inched up 0.6 percent to $17,000 per metric ton. After a 0.2 percent increase, the nickel spot price finished the day on the LME at $16,910 per metric ton.

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