The US 316 stainless Allegheny Ludlum surcharge rose 4.4 percent over the past week on MetalMiner’s stainless steel price index, making it the biggest mover. Get full pricing for more than 200 stainless surcharges – the most anywhere – updated daily.
Chinese stainless steel prices – for 304 stainless steel scrap, 316 stainless steel scrap, 304 stainless coil and 316 stainless coil –remained essentially flat from the previous week.
Korean 430 stainless steel coil and Korean 304 stainless coil traded sideways last week as well.
Stainless Steel – Raw Materials Prices
The LME nickel 3-month price rose 3.4 percent over the past week to $18,225 per metric ton. This was the third week in a row of increasing prices. At $18,150 per metric ton, the spot price of nickel finished the week 3.2 percent higher on the LME.
Closing out the third week of rising prices, the Indian nickel cash price increased by 0.6 percent.
The price of Chinese primary nickel rose 4.2 percent this week. The price of Chinese ferro-chrome did not change since the previous week, and Chinese ferro-molybdenum prices held pat as well.
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.