Stainless Price Round-Up: LME Nickel Rises 3.0% for the Week

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The week’s biggest mover on the weekly Stainless MMI® was the spot price of nickel, which saw a 3.0 percent increase on the LME to $14,225 per metric ton. This comes on the heels of a 0.3 percent decline the week prior. The nickel 3-month price settled at $14,260 per metric ton this week after shifting up 2.7 percent on the LME. The cash price of primary Indian nickel rose 2.6 percent over the past week.

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Chinese stainless steel prices were mixed for the week. Chinese ferro-chrome remained unchanged for the week. Chinese ferro-moly remained essentially flat from the previous week.

Following a 0.3 percent drop, the price of Chinese primary nickel finished the week. Chinese 304 stainless steel scrap traded sideways last week. Following a steady week, prices for Chinese 316 stainless steel scrap closed flat. Chinese 304 stainless coil prices held steady from the previous week. Prices for Chinese 316 stainless coil remained constant.

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Korean 430 stainless steel coil did not change since the previous week. The week finished with no movement for Korean 304 stainless coil.

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.