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.
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.