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Print[Ferro-Alloys.com] The week's biggest mover on the weekly Stainless MMI was the spot price of nickel, which saw a 6.2% increase on the LME to USD 16,130 per tonne. This comes on the heels of a 1.7% decline the week prior.
The 3 month price of nickel rose 6.2% on the LME to USD 16,200 per tonne after falling 1.6% during the previous week. The Indian nickel cash price closed last week with a 5.8% rise in its price.
Chinese stainless steel prices were mixed for the week. At above USD 1,300 per tonne, the price of Chinese ferrochrome did not change since the previous week. Holding above USD 22,800 per tonne, the week finished with no movement for Chinese ferromolybdenum.
The price of Chinese primary nickel shifted up 2.1% 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.
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- [Editor:editor]
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