Chinese 316 Stainless Steel Scrap Prices Fall 0.6%

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Closing at CNY 16,100 ($2,567) per metric ton on March 11, 2013, Chinese 316 stainless steel scrap saw the biggest change at a 0.6 percent. The price of Chinese 304 stainless steel scrap declined 0.6 percent to CNY 17,600 ($2,806) per metric ton. At CNY 17,600 ($2,806) per metric ton, Chinese 304 stainless coil fell 0.6 percent on Monday. The price of Chinese primary nickel showed little movement on Monday at CNY 117,700 ($18,763) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,500 ($4,225) per metric ton.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,323) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,115) per metric ton.

After falling for two days, the cash price of primary Indian nickel rose 0.3 percent to INR 903.80 ($16.63) per kilogram. On the LME, the nickel 3-month price inched up 0.3 percent to $16,625 per metric ton. At $16,555, the spot price of nickel finished the market day on the LME up 0.3 percent per metric ton.