Stainless steelmaker Outokumpu agreed last week to push back the planned closure of its plant in Bochum, Germany until at least August 2015 and offer its workers compensation as well as jobs elsewhere.
Outokumpu said in February it had scrapped plans to shut the plant, which it bought as part of its acquisition of German steelmaker ThyssenKrupp’s stainless steel business last year.
At CNY 104,800 ($16,882) per metric ton, the price of Chinese primary nickel moved up 1.4 percent on Wednesday, April 2, making it the day’s biggest mover. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,642) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,594) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,642) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,188) per metric ton.
The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,337) per metric ton for the fifth day in a row. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,358) per metric ton.
The Indian nickel cash price gained 0.4 percent to finish at INR 973.60 ($16.28) per kilogram. The nickel 3-month price rose 0.4 percent on the LME to $15,820 per metric ton after a two-day drop. After falling for two days, the spot price of nickel rose 0.3 percent on the LME to $15,775 per metric ton.