The nickel 3-month price experienced the biggest price decline of the day, dropping 1.8 percent on the LME to close at $14,900 per metric ton on Thursday, May 16. On the LME, the nickel spot price fell 1.8 percent to $14,825 per metric ton.
The price of Chinese 316 stainless coil was unchanged. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row. The price of Chinese 316 stainless steel scrap remained essentially flat. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat as well.