Stainless Steel Market Roundup: Indian Primary Nickel Cash Price Drops

On June 14, 2012, the Indian nickel cash price fell by two percent, making it the day’s biggest mover.

Meanwhile, the spot price of nickel ended a two-day climb on the LME, settling at $17,080 per metric ton. After a couple of days of improving prices on the LME, the nickel 3-month price held steady at $17,175.

Chinese stainless steel and raw material inputs prices were mixed for the day.

The price of Chinese ferro-chrome held steady above $1,300 per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat.

The price of Chinese primary nickel saw a 1.1 percent decline on June 14.

The price of Chinese 316 stainless coil remained essentially flat, holding below $4,800 per metric ton. The price of Chinese 304 stainless coil continues hovering around $2,800 per metric ton for the fifth day in a row.

Chinese 316 stainless steel scrap held its value on Thursday, and the price of Chinese 304 stainless steel scrap saw little movement.