Chinese 304 Stainless Steel Scrap Down 5.2% After Flat Spell

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Metal Prices, Premium

The price of Chinese 304 stainless steel scrap fell 5.2 percent on Monday, April 22 to CNY 16,500 ($2,667) per metric ton, making it the day’s biggest mover. The price of Chinese 304 stainless coil moved on Monday. After a few changeless days, prices dropped 5.2 percent to CNY 16,500 ($2,667) per metric ton. After holding steady for the past few days, the price of Chinese 316 stainless coil fell 2.6 percent, closing at CNY 26,000 ($4,203) per metric ton. The price of Chinese primary nickel fell 0.7 percent to CNY 106,900 ($17,279) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,602) per metric ton.

The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,342) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,437) per metric ton.

The nickel spot price weakened by 1.0 percent on the LME, settling at $15,225 per metric ton. The nickel 3-month price saw a 0.7 percent decline on the LME to $15,305 per metric ton. The cash price of primary Indian nickel saw little change in its price yesterday at INR 822.10 ($15.24) per kilogram.