Primary Indian Nickel Cash Price Up on Stainless Steel Markets

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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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