North American Stainless Announces Price Rise, LME Nickel Down
North American Stainless (NAS) announced that effective with shipments July 1, 2013, the company is increasing prices by 5% for martensitic and precipitation hardening bar grades between 7/8” – 1.50” diameter.
MetalMiner IndX℠ Stainless, Nickel, Raw Material Daily Prices
Dropping 2.3 percent on the LME, the nickel 3-month price was the biggest mover on Thursday, June 27, closing at $13,610 per metric ton. Primary cash nickel saw its price drop on the LME 2.2 percent to a 30-day low of $13,555 per metric ton yesterday.
The cash price of primary Indian nickel rose 1.7 percent.
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Chinese prices were mixed for the day. The price of Chinese ferro-chrome saw little movement. The price of Chinese ferro-moly held steady.
After a 0.1 percent increase, the price of Chinese primary nickel finished the day higher. The price of Chinese 316 stainless coil was unchanged. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat. The price of Chinese 304 stainless steel scrap continues hovering in place for the fifth day in a row.