Closing at $14,725 per metric ton on the LME, a 3.6 percent increase made the 3-month price of nickel the week’s biggest mover on the weekly Stainless MMI®. The spot price of nickel increased 3.5 percent over the past week to $14,655 per metric ton on the LME.
Last week, the Indian nickel cash price increased by a slight 2.9 percent.
The price of Chinese ferro-chrome did not change since the previous week. Prices for Chinese ferro-moly closed flat. The price of Chinese primary nickel rose 2.8 percent over the past week.
Chinese 304 stainless steel scrap remained unchanged for the week. Chinese 316 stainless steel scrap remained essentially flat. The week finished with no movement for Chinese 304 stainless coil. Chinese 316 stainless coil prices held steady from the previous week.
The price of Korean 430 stainless steel coil did not change since the previous week. Prices for Korean 304 stainless coil also closed flat.
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.