LME nickel

The cash price of primary Indian nickel saw the biggest increase on our stainless steel price index at 1.8 percent  for Sept. 6, 2012.

The nickel spot price weakened by 1.6 percent on the LME, settling at $15,830 per metric ton. On the LME, the nickel 3-month price fell 1.5 percent to $15,880 per metric ton. Following two days of rising prices, the price of Chinese primary nickel dropped 0.4 percent.

Chinese stainless steel closed mixed on Thursday.

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Source: MetalMiner IndX℠. Jan. 2012 baseline = 100

The monthly Stainless MMI® registered a value of 88 in September, a decrease of 1.1 percent from 89 in August.

“Despite strong July durable goods orders, rising close to 40 percent above the recessionary low according to Gerdau Market Update, stainless prices and surcharges continue to decline,” said Lisa Reisman, managing editor of MetalMiner.

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On Sept. 4, 2012, the nickel spot price experienced the biggest change on our stainless price index, rising 1.4 percent on the LME to $16,100 per metric ton. Also on the LME, the 3-month price of nickel gained 1.2 percent to finish at $16,150 per metric ton.

The Indian nickel cash price increased 0.1 percent.

Chinese stainless steel prices were mixed for the day.

The price of Chinese 316 stainless coil fell 0.7 percent on Tuesday after three straight days with no change. After remaining flat for three days, the price of Chinese 304 stainless coil fell 0.6 percent yesterday. The price of Chinese 304 stainless steel scrap fell 0.6 percent yesterday as well.

For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat above $2,600 per metric ton.

The price of Chinese primary nickel finished the market day up 0.3 percent per metric ton. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat, holding above $1,300 per metric ton. The price of Chinese ferro-moly remained steady as well, remaining north of $22,800 per metric ton.

The spot price of nickel fell 2.5 percent on Sept. 3, 2012 to $15,870 per metric ton on the LME, making it the day’s biggest mover. The 3-month price of LME nickel closed at $15,960 per metric ton, weakening by 2.4 percent.

The cash price of primary Indian nickel rose one percent on the day.

Chinese stainless steel closed mixed last Friday.

Chinese 316 stainless coil held its value last Friday, below $4,500 per metric ton. The price of Chinese 304 stainless coil held steady below $2,800 per metric ton. The price of Chinese 316 stainless steel scrap was essentially unchanged. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat as well, resting south of $2,800 per metric ton.

The price of Chinese primary nickel saw a 0.8 percent decline, while prices of Chinese ferro-chrome and Chinese ferro-moly each held flat.

The Indian nickel cash price saw the biggest upwards shift for the day on our stainless steel index, rising 0.2 percent on Aug. 30, 2012.

At $16,230 per metric ton, the spot price of nickel finished the market day on the LME up 0.2 percent. Also on the LME, the 3-month price of nickel rose 0.2 percent to $16,275 per metric ton.

Chinese stainless steel prices were mixed for the day.

Chinese 316 stainless coil stayed flat below $4,500 per metric ton. The price of Chinese 304 stainless coil was unchanged, below $2,800 per metric ton. The price of Chinese 316 stainless steel scrap remained steady, and the price of Chinese 304 stainless steel scrap continues hovering below $2,800 per metric ton for the fifth day in a row.

The price of Chinese primary nickel declined 0.2 percent, while the price of Chinese ferro-chrome saw essentially no change, remaining around $1,300 per metric ton, and the price of Chinese ferro-moly remained essentially flat above $22,800 per metric ton.

With a decline of 1.8 percent on the LME to $16,250 per metric ton on Aug. 29, 2012, the nickel 3-month price recorded the biggest decline of the day on our stainless steel price index. On the LME, the nickel spot price declined 1.4 percent to $16,200 per metric ton.

The Indian nickel cash price saw little movement on Wednesday, closing between $15-20 per kilogram.

Chinese stainless steel prices closed flat for the day.

The price of Chinese 316 stainless coil remained steady below $4,500 per metric ton. The price of Chinese 304 stainless coil remained essentially flat south of $2,800 per metric ton.

Chinese 316 and 304 stainless steel scrap and Chinese primary nickel prices saw little change yesterday.

The prices of Chinese ferro-chrome and ferro-moly were unchanged as well.

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The price of Chinese 316 stainless coil fell 1 percent on Aug. 28, 2012, making it the day’s biggest mover on MetalMiner’s index of stainless steel and raw material input prices.

The price of Chinese 316 stainless steel scrap rose by 0.6 percent after a three-day flat streak. The price of Chinese 304 stainless steel scrap was essentially unchanged. The price of Chinese 304 stainless coil remained steady below $2,800 per metric ton.

The price of Chinese ferro-chrome saw little movement, remaining above $1,300 per metric ton. The price of Chinese ferro-moly held steady north of $22,800 per metric ton.

Weakening prices followed two days of improvement as the price of Chinese primary nickel dropped 0.6 percent.The Indian nickel cash price saw a 0.6 percent decline as well. After a couple of days of improving prices on the LME, the nickel 3-month price held steady at $18,545 per metric ton. The LME nickel spot price steadied at $16,425 per metric ton following two days of increases.

Create your own stainless steel price index for forecasting purposes using MetalMiner IndX℠ data.

On Aug. 27, 2012, the spot price of nickel finished the market day on the LME up 1.8 percent at $16,425 per metric ton.

The cash price of primary Indian nickel flattened after two days of improvement.

Chinese stainless steel closed mixed yesterday. For the fifth consecutive day, the price of Chinese ferro-chrome held flat, and Chinese ferro-moly essentially didn’t move.

The price of Chinese primary nickel rose 0.7 percent, while the prices of Chinese 316 stainless coil, 304 stainless coil, 316 stainless steel scrap and 304 stainless steel scrap held steady.

The week’s biggest mover on the weekly Stainless MMI® was the spot price of nickel, which saw a 6.2 percent increase on the LME to $16,130 per metric ton. This comes on the heels of a 1.7 percent decline the week prior. The 3-month price of nickel rose 6.2 percent on the LME to $16,200 per metric ton after falling 1.6 percent during the previous week.

The Indian nickel cash price closed last week with a 5.8 percent rise in its price.

Chinese stainless steel prices were mixed for the week. At above $1,300 per metric ton, the price of Chinese ferro-chrome did not change since the previous week. Holding above $22,800 per metric ton, the week finished with no movement for Chinese ferro-moly.

The price of Chinese primary nickel shifted up 2.1 percent this week. Chinese 304 and 316 stainless steel scrap, and 304 and 316 stainless coil prices all held steady from the previous week.

Korean 430 stainless steel coil and 304 stainless coil prices also did not move.

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.

On Aug. 24, 2012, the spot price of nickel experienced the biggest change on our stainless steel index, rising 2.4 percent on the LME to $16,130 per metric ton. After a 2.2 percent increase, the nickel 3-month price finished the day on the LME at $16,200 per metric ton.

The cash price of primary Indian nickel finished the market day up 2.2 percent per kilogram.

Chinese stainless steel prices and key raw materials closed mixed last Friday.

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