Stainless Steel Coil, Scrap Prices Not Moving in China, Nickel Mixed

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Following two days of increases, the Indian nickel cash price dropped by 0.7 percent to end lower on Monday, July 1.

On the LME, the nickel spot price increased 0.5 percent to $13,680 per metric ton. On the LME, the nickel 3-month price declined 0.1 percent to $13,710 per metric ton.

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Chinese stainless steel closed mixed on Monday. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat. For the fifth consecutive day, the price of Chinese ferro-moly held flat.

The price of Chinese primary nickel gained 0.1 percent.

The price of Chinese 316 stainless coil remained essentially flat. The price of Chinese 304 stainless coil held steady. The price of Chinese 316 stainless steel scrap saw little movement. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row.