Chinese Primary Nickel Sees Small Decrease

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With a decline of 0.8 percent to CNY 128,000 ($20,245) per metric ton on May 15, 2012, the price of Chinese primary nickel recorded the biggest shift of the day. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 18,600 ($2,941) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 18,400 ($2,915) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 18,600 ($2,941) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 31,500 ($4,982) per metric ton.

For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,312) 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 ($22,934) per metric ton.

On the LME, the 3-month price of nickel declined 0.3 percent to $17,000 per metric ton. The price of primary nickel saw a 0.3 percent decline on the LME to $16,980 per metric ton. Following a 0.3 percent rise yesterday, Indian primary nickel cash price closed at INR 914 ($16) per kilogram.

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