Chinese stainless steel prices were down for the week on MetalMiner’s stainless steel price index.
Chinese 316 stainless coil closed out the week with a 2.3 percent decline. The price of Chinese primary nickel dropped 1.9 percent this week, closing out the third consecutive week of falling prices. The price of Chinese 304 stainless steel scrap fell 1.1 percent after rising 1.1 percent the week before.
Following a 1.1 percent increase in the week prior, the price of Chinese 304 stainless coil came back to prime, falling 1.1 percent last week. The price of Chinese 316 stainless steel scrap fell 0.6 percent over the past week — the third week in a row of declining prices.
The price of Chinese ferro-chrome did not change since the previous week. Prices for Chinese ferro-moly remained constant as well, closing the week above $22,500 per metric ton.
Following a steady week, prices for Korean 430 stainless steel coil closed flat above $2,200 per metric ton. At south of $3,700 per metric ton, the week finished with no movement for Korean 304 stainless coil.
The nickel spot price fell 1.5 percent on the LME to $15,925 per metric ton after rising 2.1 percent the week before. Following a 0.6 percent increase in the week prior, the nickel 3-month price fell 1.3 percent on the LME last week to $15,965 per metric ton. The Indian nickel cash price rose 0.7 percent after falling 2.9 percent during the previous week.
The Stainless MMI® collects and weights 14 global stainless steel and raw material price points to provide a unique view into stainless steel price trends. For more information on the Stainless MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.