LME Nickel, Indian Nickel Cash Price Drift Downwards

by on

The cash price of primary Indian nickel saw the biggest shift of the day on stainless steel raw materials inputs markets, dropping two percent on July 6, 2012. The nickel spot price weakened by 0.4 percent on the LME, settling at $16,910 per metric ton. On the LME, the nickel 3-month price fell 0.1 percent to $16,980 per metric ton.

The price of Chinese ferro-chrome held steady above $1,300 per metric ton. The price of Chinese ferro-moly continues hovering above $22,800 per metric ton for the fifth day in a row.

Chinese stainless steel prices, meanwhile, closed flat for the day.

The price of Chinese 316 stainless coil remained essentially flat above $4,700 per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat above $2,800 per metric ton.

The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around $2,700 per metric ton. The price of Chinese 304 stainless steel scrap was unchanged at above $2,800 per metric ton.

The price of Chinese primary nickel held steady, north of $19,000 per metric ton.

See how cross-comparing regional/global metal price points with the MetalMiner IndX℠ gives your sourcing team an edge.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.