Chinese Stainless Steel Scrap Price Increases

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Strengthening prices ended a three-day flat streak as the price of Chinese 304 stainless steel scrap moved up by 3.9 percent on Sept. 20, 2012 on our stainless price index.

After a 3.9 percent increase, the price of Chinese 304 stainless coil finished the day just below $3,000 per metric ton. The price of Chinese 316 stainless coil finished the day with a 1.4 percent increase. The price of Chinese 316 stainless steel scrap held steady.

The price of Chinese ferro-chrome saw little movement while the price of Chinese ferro-moly was unchanged.  The price of Chinese primary nickel increased 0.2 percent.

The Indian nickel cash price declined 0.9 percent.

On the LME, the nickel spot price fell 0.1 percent to $17,775 per metric ton. Also on the LME, the 3-month price of nickel saw little change in its price yesterday at $17,830 per metric ton.

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