Cash Price Of Primary Indian Nickel Improves Slightly

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The Indian nickel cash price saw the biggest increase on global stainless and raw materials markets on July 17, 2012, at 1.4 percent.

The spot price of nickel weakened by 1.2 percent on the LME, settling at $15,955 per metric ton. The 3-month price of nickel saw a 1.2 percent decline on the LME to $16,000 per metric ton.

Chinese stainless steel prices, meanwhile, were mixed for the day.

The price of Chinese ferro-chrome held steady at $1,300 per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat.

The price of Chinese primary nickel finished the market day up 0.8 percent per metric ton. The price of Chinese 316 stainless steel scrap fell 0.6 percent yesterday after three straight days with no change.

Chinese 316 stainless coil prices held steady at below $4,700 per metric ton. The price of Chinese 304 stainless coil remained steady at above $2,800 per metric ton. Finally, the price of Chinese 304 stainless steel scrap showed little movement on Tuesday.

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