Daily Stainless Steel, Nickel Roundup: LME Nickel Prices Fall

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The price of primary nickel saw the biggest shift of the day, dropping 1.7 percent on the LME to close at $17,525 per metric ton on May 2, 2012. Also on the LME, the 3-month price of nickel fell 1.6 percent to $17,620 per metric ton. The cash price of Indian primary nickel weakened by 1.5 percent.

Chinese stainless steel closed mixed yesterday. The price of Chinese 316 stainless coil remained steady under $5,000 per metric ton. The price of Chinese 304 stainless coil continues hovering below $3,000 per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap was unchanged at under $2,900 per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at above $2,900 per metric ton.

For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat; same for the price of Chinese ferro-moly.

Wednesday saw the price of Chinese primary nickel shift down 0.9 percent, after a couple of stagnant days.

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