MetalMiner's Daily Stainless Price Index: Chinese Nickel Lower

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The price of Chinese primary nickel experienced the biggest price shift of the day, dropping two percent. Chinese 304 stainless steel scrap stayed flat. The price of Chinese 316 stainless steel scrap also remained essentially flat in the $2,700/per metric ton range. The price of Chinese 304 stainless coil was unchanged trading in the $2,800/per metric ton range. Near the $4700/per metric ton mark, the price of Chinese 316 stainless coil was essentially unchanged.

The price of Chinese ferro-chrome saw little movement staying in the low $1,300/per metric ton rnage. The price of Chinese ferro-moly remained essentially flat.

The nickel 3-month price weakened by 0.5 percent on the LME, settling at $16,315 per metric ton. The spot price of nickel saw a 0.5 percent decline on the LME to $16,250 per metric ton. The Indian nickel cash price fell 0.2 percent.

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