The day’s biggest mover on stainless markets was the price of Chinese primary nickel which dropped by 1.4 percent on Aug. 10, 2012.
The price of Chinese 304 stainless steel scrap was essentially unchanged. The price of Chinese 316 stainless steel scrap held steady above $2,600 per metric ton. Chinese 304 stainless coil held its value last Friday above $2,800 per metric ton. The price of Chinese 316 stainless coil remained essentially flat above $4,500 per metric ton.
The price of Chinese ferro-chrome held steady, while the price of Chinese ferro-moly continues hovering below $22,800 per metric ton for the fifth day in a row.
The Indian nickel cash price saw a 1.1 percent decline. On the LME, the nickel 3-month price fell 0.3 percent to $15,505 per metric ton. On the LME, the spot price of nickel declined 0.2 percent to $15,445 per metric ton.