Daily Stainless Complex Movers
On Feb. 8, 2013, the spot price of nickel fell by 1.4 percent on the LME, landing at $18,215 per metric ton and making it the day’s biggest mover. The 3-month price of nickel saw a 1.1 percent decline on the LME to $18,295 per metric ton.
Following a 0.8 percent rise last Friday, the Indian nickel cash price closed up.
Weekly Stainless Price Index Trends
The week’s biggest mover on the Stainless MMI® was the price of Chinese primary nickel, which saw a 1.7 percent increase.
Following a 6.4 percent increase in the week prior, the nickel 3-month price fell 0.9 percent on the LME last week to $18,295 per metric ton. The spot price of nickel fell 0.8 percent on the LME to $18,215 per metric ton after rising 6.3 percent the week before.
Following a 5.4 percent increase in the week prior, the Indian nickel cash price fell 0.4 percent last week.
Chinese 304 and 316 stainless steel coil and scrap remained essentially flat from the previous week.
Chinese ferro-chrome prices held steady from the previous week as well, and there was virtually no movement for Chinese ferro-moly prices either.
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.