The Indian nickel cash price saw a 0.6 percent increase on July 26, 2012, making it the biggest mover for the day on our stainless steel price index.
After dropping for two days on the LME, the spot price of nickel flattened at $15,600. The 3-month price of nickel saw little movement yesterday on the LME, closing out around $15,680 per metric ton.
Chinese stainless steel prices were mixed.
The prices of Chinese ferro-chrome and ferro-moly held steady from the day before. Meanwhile, Chinese 304 stainless coil fell 0.6 percent yesterday. Chinese 304 stainless steel scrap prices saw a 0.6 percent decline as well.
The price of Chinese 316 stainless coil held steady above $4,500 per metric ton. The price of Chinese 316 stainless steel scrap remained steady above $2,600 per metric ton.
Finally, the price of Chinese primary nickel saw little change in its price on Thursday holding below $18,000 per metric ton.