nickel price

On June 5, 2012, the day’s biggest mover on stainless steel and its raw materials inputs markets was the price of Chinese primary nickel, which saw a one percent increase. This increase comes after the price fell for the two previous days.

The price of Chinese 304 stainless steel scrap held steady at above $2,800 per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at below $2,800 per metric ton. Chinese 304 stainless coil stayed flat as well at around $2,800 per metric ton. At below $4,800 per metric ton, the price of Chinese 316 stainless coil was essentially unchanged.

Is today the day that Chinese ferro alloys saw price movement?

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With a decline of 2.3 percent on the LME to $16,085 per metric ton on June 4, 2012, the 3-month price of nickel recorded the biggest shift of the day in stainless and its raw materials markets.

Also on the LME, the spot price of nickel fell 2.1 percent to $16,020 per metric ton.

But how did Asian stainless, nickel and ferro-alloy prices perform?

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The monthly Stainless MMI® registered a value of 91 in June, a decrease of 9 percent from 100 in May. The Stainless MMI® baseline began on January 1, 2012, at a value of 100. This report serves as the first public release of this data.

Source: MetalMiner IndX℠

(Editor’s Note: Data will be presented in graph format, but we caution readers to note the range on the Y-axis.)

To see the drivers of this monthly index and for more commentary, click below.

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The week’s biggest mover on the Stainless MMI® was the Indian nickel cash price, which saw a 5.3 percent decline. This comes on the heels of a 0.8 percent increase the week before.

This week, the spot price of nickel finished at $16,370 per metric ton on the LME after falling 3.2 percent. The 3-month price of nickel fell 3.1 percent on the LME to $16,470 per metric ton after rising 0.1 percent the week before.

Chinese stainless steel prices were mixed for the week.

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The day’s biggest mover on stainless steel and raw materials markets was the Indian nickel cash price, which dropped by 3 percent on June 1, 2012.

Following a two-day drop, the 3-month price of nickel increased by 0.3 percent on the LME to $16,470 per metric ton. After a couple of days of decreasing prices on the LME, the nickel spot price held steady at $16,370.

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The day’s biggest mover was Indian nickel cash price which dropped by three percent on June 1, 2012 to close at INR 895 ($15) per kilogram.

Following a two-day drop, the 3-month price of nickel increased by 0.3 percent on the LME to $16,470 per metric ton. After a couple of days of decreasing prices on the LME, the nickel spot price held steady at $16,370.

Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,303) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($22,768) per metric ton.

The price of Chinese primary nickel fell 1.4 percent to CNY 122,700 ($19,266) per metric ton. At CNY 30,400 ($4,773) per metric ton, the price of Chinese 316 stainless coil was essentially unchanged. The price of Chinese 304 stainless coil remained steady at CNY 18,100 ($2,842) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 17,600 ($2,778) per metric ton. Chinese 304 stainless steel scrap saw little change in its price last Friday at CNY 18,100 ($2,842) per metric ton.

On the LME, the 3-month price of nickel fell 3.2 percent to $16,425 per metric ton on May 31, 2012. On the LME, the spot price of nickel fell 2.9 percent to $16,385 per metric ton.

The Indian nickel cash price gained 0.7 percent, while the price of Chinese primary nickel declined 1.8 percent.

Chinese stainless steel prices held pat on the day.

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On the LME, the 3-month price of nickel fell 3.2 percent to $16,425 per metric ton. On the LME, the spot price of nickel fell 2.9 percent to $16,385 per metric ton. Indian nickel cash price gained 0.7 percent to finish at INR 923 ($16) per kilogram.

Closing at CNY 18,100 ($2,852) per metric ton on May 31, 2012, Chinese 304 stainless steel scrap kept even. The price of Chinese primary nickel declined 1.8 percent to CNY 124,500 ($19,621) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 17,600 ($2,778) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 18,100 ($2,852) per metric ton. Chinese 316 stainless coil saw little change in its price on Thursday at CNY 30,400 ($4,791) per metric ton.

The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,308) per metric ton for the fifth day in a row. The price of Chinese ferro-moly held steady at CNY 145,000 ($22,852) per metric ton.

On May 30, 2012, after two changeless days, the price of Chinese 316 stainless coil fell one percent to CNY 30,400 ($4,800) per metric ton. At CNY 126,800 ($20,023), the price of Chinese primary nickel finished the market day up 0.6 percent per metric ton. The price of Chinese 304 stainless coil closed Wednesday at CNY 18,100 ($2,858) per metric ton, halting its two-day flat run with a 0.5 percent decline. Chinese 316 stainless steel scrap stayed flat at around CNY 17,600 ($2,778) per metric ton.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,310) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($22,898) per metric ton for the fifth day in a row.

Indian nickel cash price declined 2.2 percent to INR 917 ($16) per kilogram. The 3-month price of nickel closed at $16,960 per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.7 percent on the LME. The nickel spot price saw a 0.6 percent decline on the LME to $16,880 per metric ton.

On May 30, 2012, one of the day’s biggest movers in global stainless steel prices was the price of Chinese 304 stainless steel scrap, which saw a 1.2 percent decline.

The price of Chinese 316 stainless coil dropped by one percent. Chinese 304 stainless coil prices fell 0.5 percent on Wednesday after two days of no change. The price of Chinese 316 stainless steel scrap remained steady at below $2,800 per metric ton.

Meanwhile, stainless raw material inputs were up and down yesterday.

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