Stainless Steel Price Round-Up: 3-Month Price of Nickel Rises 0.5%

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On Wednesday, October 30, the day’s biggest mover was the nickel 3-month price, which saw a 0.5 percent increase on the LME to $14,580 per metric ton. At $14,515, the nickel spot price finished the market day on the LME up 0.4 percent per metric ton. The cash price of primary Indian nickel rose 0.1 percent.

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Chinese stainless steel closed mixed on Wednesday. The price of Chinese ferro-chrome was unchanged. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row.

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The price of Chinese primary nickel saw a 0.2 percent decline. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat. The price of Chinese 304 stainless coil held steady. The price of Chinese 316 stainless steel scrap was unchanged. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat.