China Stainless Steel Price Weakens Today

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On Oct. 10, 2012, the day’s biggest mover on MetalMiner’s stainless price index was the price of Chinese 316 stainless coil, which saw a 0.7 percent decline. This was the first move after three changeless days, likely due to the weeklong Chinese national holiday.

The prices of Chinese 304 and 316 stainless steel scrap, and 304 stainless coil, all remained essentially flat.

The price of Chinese ferro-chrome held steady. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat as well.

Nickel Price Movement

The price of Chinese primary nickel weakened by 0.5 percent. The cash price of primary Indian nickel gained 0.2 percent. The nickel 3-month price showed little movement on Wednesday on the LME at $17,975 per metric ton.

The nickel spot price steadied at $17,925 per metric ton following two-days of dropping prices on the LME.

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