LME nickel

The nickel spot price saw a 1.9 percent increase on Aug. 22, 2012, reaching $15,605 per metric ton on the LME and making it the biggest mover for the day. Also on the LME, the 3-month price of nickel increased 1.7 percent to $15,650 per metric ton.

The cash price of primary Indian nickel rose 0.9 percent. The price of Chinese primary nickel gained 0.9 percent as well.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome held steady above $1,300 per metric ton. The price of Chinese ferro-moly saw little movement, staying north of $22,800 per metric ton.

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

The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining above $2,600 per metric ton. Chinese 304 stainless steel scrap prices were also hardly active.

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The cash price of primary Indian nickel saw a 1.5 percent increase on Aug. 21, 2012, making it the biggest mover for the day.

The nickel spot price saw a 0.7 percent decline on the LME to $15,325 per metric ton. On the LME, the nickel 3-month price declined 0.6 percent to $15,400 per metric ton.

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The biggest change on Aug. 20, 2012, came when the nickel spot price shot out of a two-day slump with a 1.6 percent improvement on the LME to close at $15,430 per metric ton. After falling for two days, the nickel 3-month price rose 1.6 percent on the LME to $15,500 per metric ton.

The Indian nickel cash price fell 0.6 percent.

Chinese stainless steel and raw materials prices closed mixed yesterday.

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The week’s biggest mover on the weekly Stainless MMI® was the Indian nickel cash price, which saw a two percent increase. This comes on the heels of a 2.4 percent decline the week prior.

The nickel spot price declined to $15,185 per metric ton after drifting 1.7 percent on the LME since last week. Since last week, the price of the 3-month price of nickel fell to $15,255 per metric ton on the LME after moving 1.6 percent.

Chinese stainless steel prices were mixed for the week. Prices for Chinese ferro-chrome remained constant, closing the week above $1,300 per metric ton. The week finished with no movement for Chinese ferro-moly.

The price of Chinese 304 stainless steel scrap finished the week down 1.1 percent. The price of Chinese 304 stainless coil dropped 1.1 percent this week as well, closing out the third consecutive week of falling prices. Chinese 316 stainless coil prices were off slightly, down by about $25 per metric ton from a week ago.

This past week, the price of Chinese primary nickel kept quiet, holding below $18,000 per metric ton. Chinese 316 stainless steel scrap remained unchanged for the week.

Korean 430 stainless steel coil remained essentially flat from the previous week at below $2,300 per metric ton. Korean 304 stainless coil traded sideways last week, hovering above $3,700 per metric ton.

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.

The price of Chinese 304 stainless steel scrap closed with a drop on Aug. 17, 2012, halting its three-day flat run with a 1.1 percent drift.

After three essentially changeless days, the price of Chinese 304 stainless coil dropped 1.1 percent last Friday while the price of Chinese primary nickel finished the market day up 0.5 percent per metric ton. The price of Chinese 316 stainless steel scrap held steady at above $2,600 per metric ton. The price of Chinese 316 stainless coil remained essentially flat as well.

The prices of Chinese ferro-chrome and ferro-moly saw essentially no change for the fifth day in a row.

The Indian nickel cash price increased 1.1 percent. On the LME, the 3-month price of nickel fell 0.4 percent to $15,255 per metric ton. The spot price of nickel weakened by 0.3 percent on the LME, settling at $15,185 per metric ton.

On Aug. 16, 2012, the day’s biggest mover on the stainless complex was the nickel spot price, which saw a 2.1 percent decline on the LME to $15,225 per metric ton. The LME nickel 3-month price closed at $15,320 per metric ton, weakening by two percent.

The cash price of primary Indian nickel saw a 1.7 percent decline.

Chinese stainless steel and raw material input prices closed mixed on Thursday.

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The nickel spot price saw a 1.6 percent increase on August 15, 2012, reaching $15,550 per metric ton on the LME and making it the biggest mover for the day. On the LME, the nickel 3-month price rose 1.5 percent to $15,625 per metric ton.

After a couple of days of improving prices, the cash price of primary Indian nickel held steady.

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On Aug. 14, 2012, the Indian nickel cash price experienced the biggest change, rising two percent.

After falling for two days, the nickel 3-month price rose one percent on the LME to $15,400 per metric ton. The spot price of nickel rose 0.5 percent on the LME to $15,300 per metric ton after a two-day drop.

Chinese stainless steel prices closed flat for the day.

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On Aug. 13, 2012, the day’s biggest mover on stainless markets was the nickel 3-month price, which saw a 1.6 percent decline on the LME to $15,255 per metric ton. Also on the LME, the spot price of nickel fell 1.5 percent to $15,220 per metric ton.

The cash price of primary Indian nickel rose 0.7 percent after a two-day drop.

Chinese raw materials and finished stainless steel prices closed mixed yesterday.

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Stainless Raw Material Inputs Tumble a Bit

The week’s biggest mover on the weekly Stainless MMI® was the cash price of primary Indian nickel, which saw a 2.4 percent decline.

The 3-month price of nickel fell 0.5 percent on the LME over the past week to $15,505 per metric ton. The nickel spot price fell 0.2 percent on the LME over the past week to $15,445 per metric ton. This was the third week in a row of declining spot and 3-month prices.

Chinese ferro-chrome and ferro-moly prices remained constant over the week, while the price of Chinese primary nickel fell 0.7 percent. This was the third week in a row of declining Chinese nickel prices.

Stainless Steel Prices in China Tilt Down

Chinese 316 stainless steel scrap prices closed out the week with a 0.6 percent decline. The price of Chinese 304 stainless steel scrap declined 0.6 percent over the past week as well, and Chinese 304 stainless coil also fell 0.6 percent over the past week. Chinese 316 stainless coil prices held steady from the previous week, settling north of $4,500 per metric ton.

Korean 430 stainless steel coil traded sideways last week, hovering below $2,300 per metric ton. Korean 304 stainless coil remained essentially flat from the previous week above $3,700 per metric ton.

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.

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