The biggest mover on the weekly Stainless MMI® was the Indian nickel cash price, which saw a 0.9 percent increase. This comes on the heels of a 0.4 percent decline the week prior.

The spot price of nickel rose 0.4 percent on the LME to $18,290 per metric ton after falling 0.8 percent during the previous week. The nickel 3-month price rose 0.3 percent on the LME to $18,350 per metric ton after falling 0.9 percent during the previous week. The price of Chinese primary nickel stayed essentially flat.

Chinese stainless steel prices were flat for the week. The week finished with no movement for Chinese ferro-chrome. Chinese ferro-moly also traded sideways last week.

Korean stainless prices also held steady.

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.