Stainless Steel Prices: Chinese Primary Nickel Price Down

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On June 13, 2012, the day’s biggest mover was the price of Chinese primary nickel, which saw a 4.6 percent decline.

The price of Chinese 304 stainless steel scrap remained essentially flat above $2,800 per metric ton. At below $2,700 per metric ton, the price of Chinese 316 stainless steel scrap was essentially unchanged.

The price of Chinese 304 stainless coil continues hovering around $2,800 per metric ton for the fifth day in a row, while the price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row as well.

On the LME, the nickel 3-month price increased 1.7 percent to $17,175 per metric ton. On the LME, the spot price of nickel rose 1.6 percent to $17,080 per metric ton.

Following a couple days of improvement, the cash price of primary Indian nickel weakened by 0.4 percent.

For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat, as did the Chinese ferro-moly price.

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