Stainless MMI®: US 304 Allegheny Ludlum Surcharge Drops 7.9% for Week

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Chinese stainless steel prices were mixed for the week. Chinese ferro-chrome prices and Chinese ferro-moly held steady from the previous week.

The price of Chinese primary nickel rose 2.8 percent over the past week. Chinese 316 stainless coil prices were off slightly, down from a week ago. Prices for Chinese 304 stainless steel scrap remained constant, as did Chinese 304 stainless coil. Chinese 316 stainless steel scrap traded sideways last week.real stainless steel pricing - MetalMiner IndX

The week finished with no movement for Korean 430 stainless steel coil. The price of Korean 304 stainless coil did not change since the previous week.

On the LME, the 3-month price of nickel spiked 3.7 percent last week. The spot price of nickel closed last week–on the LME–after a 3.1 percent rise in its price. The Indian nickel cash price rose 1.9 percent over the past week. This was the third week in a row of increasing prices.

The Stainless MMI® collects and weights 14 global stainless steel and raw material price points to provide a unique view into stainless steel price trends. For more information on the Stainless MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.

 

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