3-Month Nickel Price Drops on MetalMiner's Daily Stainless Steel Index

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Ferrous Metals

Following two days of increases on the LME, the nickel 3-month price dropped by one percent to end at $17,000 per metric ton on July 5, 2012. The nickel spot price closed at $16,980 per metric ton. Following a couple days of improvement, prices fell by 0.7 percent on the LME.

The Indian nickel cash price finished the day with a 0.4 percent increase.

Meanwhile, Chinese stainless steel and raw material inputs prices were mixed for the day.

The price of Chinese ferro-chrome saw little movement at above $1,300 per metric ton. The price of Chinese ferro-moly held steady as well.

Chinese primary nickel prices weakened by 0.6 percent.

The price of Chinese 316 stainless coil remained essentially flat above $4,500 per metric ton. The price of Chinese 304 stainless coil showed little movement on Thursday, while Chinese 316 stainless steel scrap held its value.

The price of Chinese 304 stainless steel scrap remained essentially flat above $2,800 per metric ton.

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