Daily Stainless Steel and Nickel Roundup: Chinese Nickel Drops

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The price of Chinese primary nickel saw the biggest shift of the day on stainless and raw material inputs markets, dropping 1.6 percent on June 6, 2012.

Chinese stainless prices held pretty firm, however.

The price of Chinese 304 stainless steel scrap held steady above $2,800 per metric ton. The price of Chinese 316 stainless steel scrap was unchanged below $2,800 per metric ton. Chinese 304 stainless coil saw little change in its price on Wednesday at above $2,800 per metric ton. The price of Chinese 316 stainless coil continues hovering below $4,800 per metric ton for the fifth day in a row.

In the ferro alloy realm, Chinese ferro-chrome and ferro-moly both held flat on June 6, 2012.

Wednesday saw the cash price of primary Indian nickel drift down 1.4 percent after a couple of stagnant days.

Meanwhile, the 3-month price of nickel showed little movement yesterday on the LME at $16,085 per metric ton. The spot price of nickel saw little movement yesterday on the LME, closing out around $16,020 per metric ton.

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