Cash Price Of Primary Indian Nickel Sees Small Decrease

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The day’s biggest mover was the cash price of primary Indian nickel which dropped by 0.8 percent on May 28, 2012 to close at INR 938 ($16) per kilogram. On the LME, the nickel spot price rose 0.4 percent to $16,975 per metric ton. After a 0.3 percent increase, the nickel 3-month price finished the day on the LME at $17,050 per metric ton.

Chinese stainless steel prices closed flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,310) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($22,891) per metric ton.

Chinese 316 stainless coil saw little change in its price last Friday at CNY 30,700 ($4,846) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 18,200 ($2,873) per metric ton. Chinese 316 stainless steel scrap stayed flat at around CNY 17,600 ($2,778) per metric ton. The price of Chinese 304 stainless steel scrap showed little movement last Friday at CNY 18,200 ($2,873) per metric ton. The price of Chinese primary nickel saw little change in its price last Friday at CNY 127,200 ($20,081) per metric ton.

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