With a decline of 2.3 percent on the LME to $16,085 per metric ton on June 4, 2012, the 3-month price of nickel recorded the biggest shift of the day in stainless and its raw materials markets.
Also on the LME, the spot price of nickel fell 2.1 percent to $16,020 per metric ton.
But how did Asian stainless, nickel and ferro-alloy prices perform?
The cash price of primary Indian nickel held steady between $15-20 per kilogram. Meanwhile, the price of Chinese primary nickel declined 1.2 percent.
Chinese stainless steel prices were mixed for the day. Monday saw the price of Chinese 304 stainless coil drift down 1.1 percent after a couple of stagnant days. The price of Chinese 304 stainless steel scrap declined 1.1 percent as well. Chinese 316 stainless coil saw little change in its price yesterday, remaining below $4,800 per metric ton. The price of Chinese 316 stainless steel scrap held steady below $2,800 per metric ton.
The price of Chinese ferro-chrome was unchanged at above $1,300 per metric ton. The price of Chinese ferro-moly remained essentially flat, holding below $22,800 per metric ton.