LME Nickel 3-Month Price Experiences Quite a Daily Decrease

On July 10, 2012, the nickel 3-month price fell by 5.2 percent on the LME, landing at $16,275 per metric ton and making it the day’s biggest mover on our stainless steel price index. The spot price of nickel was off by five percent on the LME on Tuesday, falling from $16,240 to $16,240 per metric ton.

The cash price of primary Indian nickel declined 0.8 percent, and Chinese primary nickel price fell 1.5 percent.

Chinese stainless steel and other raw material input prices closed mixed yesterday.

The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining above $1,300 per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat.

After a few days of little change, the price of Chinese 304 stainless coil bumped up 1.7 percent. The price of Chinese 304 stainless steel scrap increased 1.7 percent, while the price of Chinese 316 stainless steel scrap fell 0.6 percent on Tuesday.

Finally, the price of Chinese 316 stainless coil saw little movement below $4,700 per metric ton.

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