Indonesia has announced that it has decided to initiate an anti-dumping investigation against cold-rolled stainless steel imports from China, Thailand, Malaysia, South Korea, Singapore and Taiwan.
According to the announcement, interested parties should submit relevant information to the anti-dumping commission within 14 days of December 22.
With a 2.3% increase over the past day, the 3-month price of nickel was the biggest mover on the LME, closing at $15,700 per metric ton on Tuesday, December 23. On the LME, the nickel spot price inched up 2.1% to $15,625 per metric ton. The cash price of primary Indian nickel gained 0.2% to finish at INR 998.30 ($15.79) per kilogram.
Chinese stainless steel prices closed flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 10,950 ($1,760) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 90,000 ($14,463) per metric ton for the fifth day in a row.
The price of Chinese primary nickel showed little movement on Tuesday at CNY 110,300 ($17,725) per metric ton. The Allegheny Ludlum 316 stainless surcharge remained essentially flat at $0.97 per pound. The price of Chinese 316 stainless coil saw little movement at CNY 23,700 ($3,809) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 17,750 ($2,852) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 13,350 ($2,145) per metric ton.