The Indian nickel cash price rose 2.2 percent this week, closing out the third week of rising prices on MetalMiner’s weekly stainless steel price index.
The spot price of nickel fell 1.5 percent on the LME to $14,430 per metric ton after rising 3.5 percent the week before. Following a 3.6 percent increase in the week prior, the 3-month price of nickel fell 1.3 percent on the LME last week to $14,530 per metric ton.
Following a 2.8 percent increase in the week prior, the price of Chinese primary nickel fell 1.1 percent last week.
Chinese 304 stainless steel scrap remained essentially flat from the previous week. The price of Chinese 316 stainless steel scrap did not change since the previous week. Following a steady week, prices for Chinese 304 stainless coil closed flat. Chinese 316 stainless coil traded sideways last week.
The week finished with no movement for Chinese ferro-chrome and Chinese ferro-moly prices.
Korean 430 stainless steel coil remained unchanged for the week. Korean 304 stainless coil traded sideways.
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.