Chinese Stainless Scrap, Primary Nickel Prices Drop Slightly

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Dropping 1.1 percent, the price of Chinese primary nickel was the biggest mover on Aug. 9, 2012.

After holding steady for the past few days, the price of Chinese 316 stainless steel scrap fell 0.6 percent. Chinese 304 stainless steel scrap stayed flat at above $2,800 per metric ton.

Chinese 304 stainless coil held its value yesterday, and the price of Chinese 316 stainless coil was unchanged.

The price of Chinese ferro-chrome saw little movement, holding at its mark above $1,300 per metric ton. The price of Chinese ferro-moly remained essentially flat as well.

On the LME, the spot price of nickel gained 0.2 percent to finish at $15,475 per metric ton. On the LME, the 3-month price of nickel increased 0.1 percent to $15,545 per metric ton.

Finally, the Indian nickel cash price declined 0.1 percent.

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