3-Month Price of Nickel Rises

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Nickel 3-month prices saw the biggest upwards shift for the day, rising three percent on the LME to close at $18,065 per metric ton on April 27, 2012. Also on the LME, the price of primary nickel rose 2.7 percent to $17,965 per metric ton.

Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,319) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,055) per metric ton.

The price of Chinese primary nickel gained 1.1 percent to finish at CNY 133,000 ($21,147) per metric ton. The price of Chinese 316 stainless coil remained steady at CNY 31,500 ($5,008) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 18,600 ($2,957) per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 18,200 ($2,886) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 18,600 ($2,957) per metric ton.

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