On the LME, the nickel spot price rose 1.3 percent to $16,070 per metric ton. On the LME, the 3-month price of nickel rose 1.1 percent to $16,120 per metric ton. The cash price of primary Indian nickel showed little movement yesterday.
North America Stainless, the US division of Acerinox SA the world’s largest steel producer, has raised prices on its stainless steel products prices for April this year, following a similar move by AK Steel last week. The price rise is necessary, North American said in a statement, to support the company’s business development.
Rising 5.7 percent, the price of Chinese primary nickel experienced the biggest change for Wednesday, March 19. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, and the price of Chinese 316 stainless steel scrap remained essentially flat as well. The price of Chinese 304 stainless coil continues hovering around a fixed point, which it’s been doing for five days in a row. The price of Chinese 316 stainless coil remained essentially flat too.
The price of Chinese ferro-chrome saw little movement. The price of Chinese ferro-moly saw essentially no change, yet another five-day trend.