The day’s biggest mover on our stainless price index was the LME nickel 3-month price, which dropped by 2.1 percent on Nov. 6, 2012 to close at $15,850 per metric ton. The spot price of LME nickel declined 1.7 percent to $15,845 per metric ton.
The price of Chinese 316 stainless steel scrap moved on Tuesday. After a few changeless days, prices dropped 0.6 percent. The price of Chinese 316 stainless coil held steady, the price of Chinese 304 stainless coil held flat and the price of Chinese 304 stainless steel scrap saw little movement.
Prices of Chinese ferro-chrome and ferro-molybdenum remained essentially flat. The price of Chinese primary nickel held steady as well.