Chinese Primary Nickel Price Drifts Downwards on Daily Index

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The price of Chinese primary nickel experienced the biggest price shift of the day, dropping 1.4 percent on July 25, 2012.

The price of Chinese 304 stainless steel scrap showed little movement on Wednesday, and the price of Chinese 316 stainless steel scrap was essentially unchanged. The price of Chinese 304 stainless coil remained steady above $2,800 per metric ton, and Chinese 316 stainless coil held its value on Wednesday in the mid-$4,500-per-metric-ton range.

The price of Chinese ferro-chrome held steady, dipping below $1,300 per metric ton. The price of Chinese ferro-moly remained essentially flat above $22,700 per metric ton.

The cash price of primary Indian nickel inched up 1.4 percent. The 3-month price of nickel is back up, rising by 0.4 percent on the LME yesterday to close at $15,680 per metric ton. On the LME, the nickel spot price fell 0.2 percent to $15,600 per metric ton.

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