Indian Nickel Price Shifts Downwards on Daily Stainless Steel Index

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Global Nickel Prices

With a decline of two percent on June 22, 2012, the Indian nickel cash price recorded the biggest shift of the day.

After improving for two days, the spot price of nickel declined 1.5 percent on the LME to $16,775 per metric ton. Following a couple days of improvement, the 3-month price of nickel weakened by 1.5 percent on the LME. Prices closed at $16,865 per metric ton.

The price of Chinese primary nickel saw little movement last Friday, remaining under $20,000 per metric ton.

How did stainless steel prices fare?

Stainless Steel and Ferro Alloys Prices

Chinese stainless steel prices closed flat for the day.

Ferro-alloys-wise, for the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat, as did the price of Chinese ferro-moly which saw essentially no change for the fifth day in a row, remaining around under $23,000 per metric ton.

The price of Chinese 316 stainless coil held steady under $4,800 per metric ton, and the price of Chinese 304 stainless coil saw little movement above $2,800 per metric ton.

The price of Chinese 316 stainless steel scrap remained essentially flat, while the price of Chinese 304 stainless steel scrap continues hovering above $2,800 per metric ton for the fifth day in a row.

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