On Aug. 13, 2012, the day’s biggest mover on stainless markets was the nickel 3-month price, which saw a 1.6 percent decline on the LME to $15,255 per metric ton. Also on the LME, the spot price of nickel fell 1.5 percent to $15,220 per metric ton.
The cash price of primary Indian nickel rose 0.7 percent after a two-day drop.
Chinese raw materials and finished stainless steel prices closed mixed yesterday.
The price of Chinese ferro-chrome remained essentially flat, holding north of $1,300 per metric ton, as it has for ages. The price of Chinese ferro-moly also held steady — par for the course — at below $22,800 per metric ton. The price of Chinese primary nickel saw a 0.4 percent decline.
Monday saw the price of Chinese 316 stainless coil drift down 0.7 percent after three quiet days. The price of Chinese 304 stainless coil remained essentially flat above $2,800 per metric ton.
At north of $2,600 per metric ton, the price of Chinese 316 stainless steel scrap was essentially unchanged. The price of Chinese 304 stainless steel scrap was unchanged, above $2,800 per metric ton.