Stainless MMI®: Week Closes Up for US 304 Allegheny Ludlum Surcharge 3.3%

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Chinese stainless steel prices were mixed for the week. Chinese ferro-chrome traded sideways last week, hovering around CNY 8,300 ($1,334) per metric ton. Closing at CNY 145,000 ($23,299) per metric ton, Chinese ferro-moly remained unchanged for the week.

Following a 1.3 percent drop, the price of Chinese primary nickel finished the week at CNY 118,000 ($18,961) per metric ton. The price of Chinese 316 stainless coil declined 1.1 percent over the past week, settling at CNY 26,500 ($4,258) per metric ton. Chinese 304 stainless steel scrap fell 1.1 percent over the past week to CNY 17,700 ($2,844) per metric ton. Chinese 304 stainless coil prices were off slightly at CNY 17,700 ($2,844) per metric ton, down from CNY 17,900 ($2,869) a week ago. At CNY 16,700 ($2,683) per metric ton, the week finished with no movement for Chinese 316 stainless steel scrap.

Korean 430 stainless steel coil prices held steady from the previous week at KRW 2.6 million ($2,376) per metric ton. At KRW 4.2 million ($3,881) per metric ton, the price of Korean 304 stainless coil did not change since the previous week.

The cash price of primary Indian nickel fell 1.8 percent last week, settling at INR 894.70 ($16.46) per kilogram. The 3-month price of nickel fell 0.5 percent on the LME over the past week to $16,755 per metric ton. This was the third week in a row of declining prices. For the third week in a row, the nickel spot price dropped, falling 0.3 percent on the LME to $16,705 per metric ton.

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.