AK Steel, the Westchester, Ohio-based producer of steel and stainless, “plans to restart its Middletown, Ohio, blast furnace on July 18, just three-and-a-half weeks after an unexpected mechanical failure caused the producer to idle the facility,” AMM reported originally, and reprinted by Metal Bulletin.
“The repairs have been moving ahead of schedule and the mill will be taking scrap ahead of time, three market sources said,” according to the article.
While stainless prices in China remained flat, the Indian nickel cash price saw the biggest increase at 2.5 percent for Wednesday, July 10.
The LME nickel 3-month price fell 1.4 percent to a 30-day low of $13,240 per metric ton yesterday. On Wednesday a price drop of 1.2 percent carried the nickel spot price to a 30-day low of $13,155 per metric ton on the LME. The price of Chinese primary nickel fell to a 30-day low after drifting 0.3 percent.
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 316 stainless coil remained essentially flat. The price of Chinese 304 stainless coil held steady. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row. The price of Chinese 304 stainless steel scrap saw little movement.