Stainless Price Round-Up: Primary Indian Nickel Falls 5.0% for the Week

The week’s biggest mover on the weekly Stainless MMI® was the cash price of primary Indian nickel, which saw a 5.0 percent decline. This comes on the heels of a 3.3 percent increase the week before. Following a 0.8 percent increase in the week prior, the spot price of nickel fell 3.9 percent on the LME last week to $13,945 per metric ton. The nickel 3-month price fell 3.5 percent on the LME to $14,055 per metric ton after rising 0.6 percent the week before.

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Chinese stainless steel prices were mixed for the week. The price of Chinese ferro-chrome did not change since the previous week. Chinese ferro-moly remained unchanged for the week.

The price of Chinese primary nickel closed last week, after a 1.4 percent drop. Chinese 304 stainless steel scrap traded sideways last week. The week finished with no movement for Chinese 316 stainless steel scrap. Following a steady week, prices for Chinese 304 stainless coil closed flat. Chinese 316 stainless coil remained essentially flat from the previous week.

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Korean 430 stainless steel coil traded sideways last week. Korean 304 stainless coil remained unchanged for the week.

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.

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