stainless steel price

The week’s biggest mover on the Stainless MMI® was Chinese 316 stainless steel scrap, which saw a 4.3 percent decline to CNY 17,600 ($2,778) per metric ton. After a 1.3 percent decline, Chinese 316 stainless coil closed out the week at CNY 30,700 ($4,846) per metric ton. The price of Chinese primary nickel rose 1.1 percent to CNY 127,200 ($20,080) per metric ton after falling 3.7 percent during the previous week. Chinese 304 stainless steel scrap saw a 0.5 percent decline over the past week to CNY 18,200 ($2,873) per metric ton. Chinese 304 stainless coil fell 0.5 percent over the past week to CNY 18,200 ($2,873) per metric ton.

At CNY 8,300 ($1,310) per metric ton, the price of Chinese ferro-chrome did not change since the previous week. Chinese ferro-moly prices held steady from the previous week at CNY 145,000 ($22,890) per metric ton.

Korean 430 stainless steel coil remained essentially flat from the previous week at KRW 2.6 million ($2,215) per metric ton. Closing at KRW 4.2 million ($3,618) per metric ton, Korean 304 stainless coil remained unchanged for the week.

Last week, the cash price of primary Indian nickel shifted slightly, rising by 0.8 percent to close at INR 946 ($17) per kilogram. The 3-month price of nickel rose 0.1 percent on the LME to $17,000 per metric ton after falling 1.4 percent during the previous week. At $16,910 per metric ton, the nickel spot price remained essentially flat on the LME.

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 primary nickel saw the biggest shift of the day on stainless steel and its raw materials inputs markets, dropping three percent on May 24, 2012. The price of Chinese 316 stainless steel scrap increased 1.7 percent, while holding under $2,900 per metric ton, the price of Chinese 304 stainless steel scrap was essentially unchanged.

The price of Chinese 304 stainless coil remained essentially flat below $2,900 per metric ton. Chinese 316 stainless coil held its value on Thursday at below $4,900 per metric ton.

And how did ferro-alloy prices and other nickel prices fare?

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The price of Chinese primary nickel saw the biggest shift of the day, dropping three percent to close at CNY 126,800 ($20,031) per metric ton on May 24, 2012. The price of Chinese 316 stainless steel scrap increased 1.7 percent to CNY 17,600 ($2,780) per metric ton. At CNY 18,300 ($2,890) per metric ton, the price of Chinese 304 stainless steel scrap was essentially unchanged. The price of Chinese 304 stainless coil remained essentially flat at CNY 18,300 ($2,890) per metric ton. Chinese 316 stainless coil held its value on Thursday at CNY 31,000 ($4,897) per metric ton.

The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,311) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($22,906) per metric ton.

On the LME, the nickel 3-month price fell 0.9 percent to $16,900 per metric ton. The spot price of nickel saw a 0.9 percent decline on the LME to $16,875 per metric ton. After a 0.8 percent increase, Indian nickel cash price finished the day at INR 952 ($17) per kilogram.

With a 1.5 percent increase over the past day, the LME nickel spot price was the biggest mover on global stainless steel and raw materials markets, closing at $17,025 per metric ton on May 23, 2012. After a 1.2 percent increase, the 3-month price of nickel finished the day on the LME at $17,055 per metric ton. Indian nickel cash price rose one percent.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome was unchanged, and for the fifth consecutive day, the price of Chinese ferro-moly held flat.

Chinese 316 stainless coil held its value on Wednesday at above $4,900 per metric ton. The price of Chinese 304 stainless coil showed little movement on Wednesday at below $2,900 per metric ton. For the twelfth day in a row, the price of Chinese 316 stainless steel scrap fell and is currently between $2,700 and $2,750 per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat below $2,900 per metric ton.

The price of Chinese primary nickel steadied at above $20,700 per metric ton following two-days of increases.

With a 1.5 percent increase over the past day, the nickel spot price was the biggest mover on the LME, closing at $17,025 per metric ton on May 23, 2012. After a 1.2 percent increase, the 3-month price of nickel finished the day on the LME at $17,055 per metric ton. Indian nickel cash price rose one percent to INR 944 ($17) per kilogram.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,314) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($22,957) per metric ton.

Chinese 316 stainless coil held its value on Wednesday at CNY 31,000 ($4,908) per metric ton. The price of Chinese 304 stainless coil showed little movement on Wednesday at CNY 18,300 ($2,897) per metric ton. For the twelfth day in a row, the price of Chinese 316 stainless steel scrap fell and is currently at CNY 17,300 ($2,739) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 18,300 ($2,897) per metric ton. The price of Chinese primary nickel steadied at CNY 130,750 ($20,701) per metric ton following two-days of increases.

The day’s biggest mover on stainless steel and its raw materials inputs markets broke away from a static phase with a six percent drop on May 22, 2012. After three changeless days, the price of Chinese 316 stainless steel scrap closed between $2,700 and $2,750 per metric ton.

On Tuesday, the price of Chinese primary nickel experienced a large decrease as well, rising 3.8 percent.

Other Chinese stainless prices saw downward movement.

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The day’s biggest mover broke away from a static phase with a six percent drop on May 22, 2012. After three changeless days, the price of Chinese 316 stainless steel scrap closed at CNY 17,300 ($2,736) per metric ton. On Tuesday, the price of Chinese primary nickel experienced a large decrease, rising 3.8 percent to land at CNY 130,750 ($20,682) per metric ton. At CNY 31,000 ($4,903) per metric ton, Chinese 316 stainless coil fell 0.3 percent on Tuesday. Chinese 304 stainless steel scrap saw little change in its price on Tuesday at CNY 18,300 ($2,894) per metric ton. The price of Chinese 304 stainless coil showed little movement on Tuesday at CNY 18,300 ($2,894) per metric ton.

For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,312) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($22,936) per metric ton.

On the LME, the nickel spot price fell 1.9 percent to $16,770 per metric ton. The cash price of primary Indian nickel gained 1.9 percent to finish at INR 934 ($17) per kilogram. On the LME, the nickel 3-month price declined 1.7 percent to $16,855 per metric ton.

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