Chinese and Indian Primary Nickel Prices Increase

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Rising 5.6 percent, the price of Chinese primary nickel experienced the biggest change on stainless steel and input materials markets, for June 12, 2012.

The price of Chinese ferro-chrome held steady, while for the fifth day in a row, the price of Chinese ferro-moly remained essentially flat above $22,800 per metric ton.

Chinese stainless prices looked up or held steady on June 12…

The price of Chinese 316 stainless steel scrap finished the market day up 0.6 percent. The Chinese 304 stainless steel scrap price saw essentially no change for the fifth day in a row, remaining above $2,800 per metric ton. The price of Chinese 304 stainless coil was unchanged, also above $2,800 per metric ton. The price of Chinese 316 stainless coil continues hovering below $4,800 per metric ton for the fifth day in a row.

The Indian nickel cash price, like the China nickel price, moved up 3.1 percent.

On the LME, the nickel 3-month price rose three percent to $16,895 per metric ton. On the LME, the nickel spot price gained 2.9 percent to finish at $16,810 per metric ton.

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