Primary Indian Nickel Cash Price Up on Stainless Steel Markets

On June 11, 2012, the Indian nickel cash price experienced the biggest change on stainless steel markets, rising 3.1 percent.

The nickel spot price saw a 0.7 percent decline on the LME to $16,330 per metric ton. On the LME, the 3-month price of nickel declined 0.6 percent to $16,400 per metric ton.

Chinese stainless steel prices and raw material prices were mixed for the day.

The price of Chinese ferro-chrome was unchanged at above $1,300 per metric ton. The price of Chinese ferro-moly saw little movement at above $22,700 per metric ton.

The price of Chinese primary nickel rose 2.1 percent.

For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat below $4,800 per metric ton. Chinese 304 stainless coil also stayed flat at around $2,800 per metric ton.

Chinese 316 stainless steel scrap has been on the decline for 13 days and is now between $2,600 and $2,700 per metric ton. Meanwhile, the price of Chinese 304 stainless steel scrap remained essentially flat.

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