The biggest mover on MetalMiner’s weekly Stainless MMI® was the 3-month price of nickel, which saw a 1.8 percent increase on the LME to $17,590 per metric ton. This comes on the heels of a 1.4 percent decline the week prior.
The nickel spot price rose 1.8 percent on the LME to $17,535 per metric ton after falling 1.7 percent during the previous week.
The cash price of primary Indian nickel rose 1.2 percent after falling 2.1 percent during the previous week. The price of Chinese primary nickel rose 1.4 percent after falling 0.2 percent during the previous week.
Chinese stainless steel prices were even for the week. The week finished with no movement for Chinese ferro-chrome. The price of Chinese ferro-moly did not change since the previous week.
Korean 430 stainless steel coil remained essentially flat from the previous week. Prices for Korean 304 stainless coil remained constant.
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.