Stainless MMI®: US 316 Allegheny Ludlum Surcharge Sees 3.2% Drop for Week

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Metal Prices, Premium

Chinese stainless steel prices were mixed for the week. Following a steady week, prices for Chinese ferro-chrome closed flat at CNY 8,300 ($1,355) per metric ton. Prices for Chinese ferro-moly remained constant, closing the week at CNY 145,000 ($23,665) per metric ton.

A 0.2 percent gain landed the price of Chinese primary nickel at CNY 97,400 ($15,897) per metric ton. Chinese 304 stainless steel scrap prices held steady from the previous week at CNY 16,400 ($2,677) per metric ton. Closing at CNY 16,100 ($2,628) per metric ton, Chinese 316 stainless steel scrap remained unchanged for the week. Chinese 304 stainless coil traded sideways last week, hovering around CNY 16,400 ($2,677) per metric ton. At CNY 26,000 ($4,243) per metric ton, the price of Chinese 316 stainless coil did not change since the previous week.

At KRW 2.6 million ($2,376) per metric ton, the week finished with no movement for Korean 430 stainless steel coil. Korean 304 stainless coil remained essentially flat from the previous week at KRW 4.2 million ($3,881) per metric ton.

The spot price of nickel rose 0.6 percent on the LME to $13,685 per metric ton after falling 0.9 percent during the previous week. The nickel 3-month price rose 0.4 percent on the LME to $13,775 per metric ton after falling 0.6 percent during the previous week. The cash price of primary Indian nickel stayed essentially flat at INR 846.30 ($14.06) per kilogram.

The Stainless MMI® collects and weights 14 global stainless steel and raw material price points to provide a unique view into stainless steel price trends. For more information on the Stainless MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.