China 316 Stainless Steel Scrap Price Drops Almost 2%

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On Oct. 30, 2012, Chinese 316 stainless steel scrap saw the biggest change on MetalMiner’s stainless price index at a 1.8 percent.

The price of Chinese 304 stainless steel scrap moved on Tuesday as well. After a few changeless days, prices dropped 1.6 percent.

real stainless steel pricing - MetalMiner IndXAfter three straight days of no change, the price of Chinese 304 stainless coil decreased by 1.6 percent. After three essentially changeless days, the price of Chinese 316 stainless coil dropped 0.7 percent yesterday.

How did raw material inputs for stainless fare on our daily stainless index?

The price of Chinese primary nickel declined 1.4 percent. The cash price of primary Indian nickel rose 1.5 percent after a two-day drop. The nickel spot price weakened by 1.4 percent on the LME, settling at $15,865 per metric ton. On the LME, the nickel 3-month price fell 1.1 percent to $15,920 per metric ton.

Meanwhile, the price of Chinese ferro-chrome continues hovering in place for the fifth day in a row. The price of Chinese ferro-moly saw little movement.

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