Chinese 316 Stainless Steel Scrap Price Improves

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Following a three-day flat streak, the price of Chinese 316 stainless steel scrap climbed by 1.7 percent on June 19, 2012. The price of Chinese primary nickel, however, declined 1.7 percent after two days of improvement.

Other Chinese stainless prices didn’t see as much excitement.

For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at over $2,800 per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, and Chinese 316 stainless coil saw little movement, holding below $4,800 per metric ton.

The price of Chinese ferro-chrome continues in a steady trend line, and for the fifth consecutive day, the price of Chinese ferro-moly held flat above $22,800 per metric ton.

Following a two-day drop, the cash price of primary Indian nickel increased by one percent. After falling for two days, the nickel 3-month price rose 0.2 percent on the LME to $16,675 per metric ton. After dropping for two days on the LME, the nickel spot price flattened at $16,620.

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