The price of Chinese primary nickel saw a 0.9 percent drop on May 29, 2012, landing at CNY 126,000 ($19,900) per metric ton and making it the biggest mover of the day. Chinese 304 stainless steel scrap held its value yesterday at CNY 18,200 ($2,874) per metric ton. The price of Chinese 316 stainless steel scrap showed little movement yesterday at CNY 17,600 ($2,778) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 18,200 ($2,874) per metric ton. The price of Chinese 316 stainless coil showed little movement yesterday at CNY 30,700 ($4,848) per metric ton.
The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,310) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($22,901) per metric ton.
After a 0.1 percent increase, the 3-month price of nickel finished the day on the LME at $17,075 per metric ton. After dropping for two days, the cash price of primary Indian nickel flattened at INR 938 ($17). The spot price of nickel ended a two-day climb, settling at $16,975 per metric ton on the LME.