The price of Chinese primary nickel saw the biggest increase on the weekly Stainless MMI® this week, rising 1.4 percent.
Following a 1.2 percent increase in the week prior, the Indian nickel cash price fell 0.5 percent last week.
The 3-month price of nickel settled at $17,625 per metric ton this week after shifting up 0.2 percent on the LME. Also on the LME, the nickel spot price remained steady from the previous week at $17,530 per metric ton.
What About Stainless Prices?
Sitting in kind of a rut, Chinese 304 and 316 stainless steel coil and scrap remained unchanged for the entire week on MetalMiner’s stainless price index.
Similarly, the week finished with no movement for Chinese ferro-chrome. Prices for Chinese ferro-moly remained constant as well.
Korean 430 stainless steel coil prices held steady from the previous week. The price of Korean 304 stainless coil did not change since the previous week.
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.