Chinese Primary Nickel Experiences Large Decrease

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Dropping 5.9 percent, the price of Chinese primary nickel was the biggest mover on June 26, 2012, closing over $19,300 per metric ton. Chinese 304 stainless steel scrap finished the day up 2.2 percent.  After holding steady for the past few days, the price of Chinese 316 stainless coil fell 1.6 percent. The price of Chinese 316 stainless steel scrap held steady near $2,700 per metric ton. The price of Chinese 304 stainless coil saw little movement.

The price of Chinese ferro-chrome was unchanged. For the fifth consecutive day, the price of Chinese ferro-moly also held flat near $22,800 per metric ton.

Following a two-day drop, the nickel 3-month price increased by 0.6 percent on the LME to $16,400 per metric ton. After falling for two days, the cash price of primary Indian nickel rose 0.5 percent. The spot price of nickel rose 0.4 percent on the LME to $16,325 per metric ton after a two-day drop.

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