Nickel Spot Price Climbs on the LME

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The nickel spot price saw a big lift of 3.2 percent on the LME, finishing at $17,100 per metric ton for July 4, 2012. After a 2.1 percent increase, the nickel 3-month price finished the day on the LME at $17,175 per metric ton. The cash price of primary Indian nickel weakened by 1.1 percent, following a couple days of improvement.

Ferro alloy prices held steady on July 4. The price of Chinese ferrochrome held steady while the price of Chinese ferro-moly saw little movement.

Chinese stainless steel prices were mixed for the day. The price of Chinese primary nickel increased 0.8 percent. The price of Chinese 316 stainless coil remained essentially flat. The price of Chinese 304 stainless coil also remained steady.  Chinese 316 stainless steel scrap saw little change in its price on Tuesday. The price of Chinese 304 stainless steel scrap was essentially unchanged.

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