Allegheny Technologies, Inc., has become the latest steel producer to hike prices this year with stainless steel base prices scheduled to rise May 5 for 200 and 300 series grades as well as 430 grade alloy. ATI announced the price hikes April 10.
Rising 2.1 percent to close at $17,390 per metric ton, the nickel spot price experienced the biggest change on the LME for Monday, April 14. At $17,440, the 3-month price of nickel finished the market day on the LME up 1.9 percent per metric ton. The cash price of primary Indian nickel changed direction with a 0.4 percent drop. After two days of improving prices, the metal finished at INR 1,041 ($17.25) per kilogram.
Chinese stainless steel prices were flat for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,332) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,265) per metric ton.
The price of Chinese primary nickel flattened at CNY 117,900 ($18,917) after two days of improvement. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,172) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,631) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,583) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,631) per metric ton.