Stainless Steel Market Quiet, as Nickel Prices Tick Up

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On Aug. 27, 2012, the spot price of nickel finished the market day on the LME up 1.8 percent at $16,425 per metric ton.

The cash price of primary Indian nickel flattened after two days of improvement.

Chinese stainless steel closed mixed yesterday. For the fifth consecutive day, the price of Chinese ferro-chrome held flat, and Chinese ferro-moly essentially didn’t move.

The price of Chinese primary nickel rose 0.7 percent, while the prices of Chinese 316 stainless coil, 304 stainless coil, 316 stainless steel scrap and 304 stainless steel scrap held steady.

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