Nickel Flat on the LME, AK Steel Raises Stainless Prices

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AK STeel raised prices of commodity sheet and strip, pipe and tube sheet and strip as well as specialty sheet and strip through a discount reduction of 2 percentage points last week. The company will raise prices of all other stainless steel products, including automotive exhaust sheet and strip by $40 per ton.

The spot price of nickel saw little change Monday, April 21, staying around $17,980 per metric ton on the LME. On the LME, the nickel 3-month price showed little movement on Tuesday, hovering around $17,950 per metric ton. The Indian nickel cash price remained essentially flat at INR 1,088 ($17.99) per kilogram.

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Chinese stainless steel prices closed flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,332) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,275) per metric ton.

The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,173) per metric ton for the fifth day in a row. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,633) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,584) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,633) per metric ton. The price of Chinese primary nickel saw little price change yesterday at CNY 120,800 ($19,391) per metric ton.

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