Daily Stainless Steel Roundup: Chinese Nickel Price Changes Directions

On June 5, 2012, the day’s biggest mover on stainless steel and its raw materials inputs markets was the price of Chinese primary nickel, which saw a one percent increase. This increase comes after the price fell for the two previous days.

The price of Chinese 304 stainless steel scrap held steady at above $2,800 per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at below $2,800 per metric ton. Chinese 304 stainless coil stayed flat as well at around $2,800 per metric ton. At below $4,800 per metric ton, the price of Chinese 316 stainless coil was essentially unchanged.

Is today the day that Chinese ferro alloys saw price movement?

Actually, no. The price of Chinese ferro-chrome kept steady at above $1,300 per metric ton. The price of Chinese ferro-moly continues hovering below $22,800 per metric ton.

The Indian nickel cash price showed little movement on Tuesday, holding between $15 and $20 per kilogram.

On the LME, the 3-month price of nickel saw little change in its price on Tuesday at $16,085 per metric ton. On the LME, the nickel spot price held steady around $16,020 per metric ton.

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