India’s domestic stainless steel prices remained stable w-o-w. Meanwhile, imported scrap prices increased by $10/t. This was influenced by a rise in LME nickel prices, reaching $16,910/t , up by 6% w-o-w. Chinese stimulus measures and restocking demand ahead of the National Day holiday also played a role. SS304 scrap prices stood at $1,420/t and SS316 prices stood at $2,620/t CFR Mundra.
India’s stainless steel scrap prices rise amid surge in LME nickel
CFR Mundra Chinese stimulus measures commodity price trends domestic stainless steel stability Imported Scrap Prices India stainless steel prices LME nickel prices metal prices India National Day Holiday nickel price increase restocking demand SS304 scrap prices SS316 scrap prices stainless steel market update week-on-week price change
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