Daily Stainless Steel and Nickel Price Roundup: Indian, LME Nickel Rise

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On May 7, 2012, the cash price of Indian primary nickel experienced the biggest change, rising 1.1 percent to INR 933 ($17) per kilogram. The nickel 3-month price also saw a 1.1 percent decline on the LME to $17,425 per metric ton. On the LME, the primary nickel price fell 0.9 percent to $17,370 per metric ton. The price of Chinese primary nickel weakened by 0.5 percent, settling at CNY 131,200 ($20,805) per metric ton.

Chinese stainless steel closed mixed on Monday. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,316) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($22,993) per metric ton.

After a few days of little change, the price of Chinese 304 stainless coil jumped 0.5 percent, landing at CNY 18,700 ($2,965) per metric ton. The price of Chinese 304 stainless steel scrap increased 0.5 percent to CNY 18,700 ($2,965) per metric ton.The price of Chinese 316 stainless coil remained essentially flat at CNY 31,500 ($4,995) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 18,200 ($2,886) per metric ton.

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