Daily Stainless Steel Price Index: Indian Nickel Moves Up

On July 19, 2012, the day’s biggest mover on stainless and nickel markets was the cash price of primary Indian nickel, which saw a 1.3 percent increase. The 3-month price of nickel saw a one percent decline on the LME to $16,040 per metric ton. On the LME, the nickel spot price declined 0.7 percent to $15,980 per metric ton.

Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat above $1,300 per metric ton. The price of Chinese ferro-moly continues hovering below $22,800 per metric ton.

On the tail of a three-day flat streak, the price of Chinese 304 stainless coil rose by 1.1 percent. The price of Chinese 304 stainless steel scrap gained 1.1 percent as well.

The price of Chinese 316 stainless coil remained essentially flat below $4,700 per metric ton. The price of Chinese 316 stainless steel scrap remained steady north of $2,600 per metric ton.

The price of Chinese primary nickel inched up 0.4 percent.