Chinese 304 Stainless Steel Scrap Down 2.2%

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Metal Prices, Premium

The price of Chinese 304 stainless steel scrap closed April 2, 2013 at CNY 17,400 ($2,805) per metric ton, halting its three-day flat run with a 2.2 percent drift. After holding steady for the past few days, the price of Chinese 304 stainless coil fell 2.2 percent, closing at CNY 17,400 ($2,805) per metric ton. After dropping for two days, the price of Chinese primary nickel flattened at CNY 115,500 ($18,617). The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,595) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,700 ($4,304) per metric ton.

The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,338) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,373) per metric ton.

After two changeless days, the Indian nickel cash price fell 1.0 percent to INR 890.60 ($16.40) per kilogram. On the LME, the 3-month price of nickel remained essentially flat at $16,695 per metric ton. The nickel spot price showed little movement yesterday on the LME at $16,535 per metric ton.