Nickel Spot Price Improves Slightly

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With a 2.1 percent increase before the weekend, the spot price of nickel was the biggest mover on the LME, closing at $15,925 per metric ton on July 27, 2012. On the LME, the nickel 3-month price gained 1.8 percent to finish at $15,965 per metric ton.

Following a couple days of improvement, the Indian nickel cash price weakened by 1.4 percent.

Chinese stainless steel prices were mixed for the day.

The price of Chinese ferro-chrome remained essentially flat at below $1,300 per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row.

The price of Chinese primary nickel rose 0.6 percent. The price of Chinese 316 stainless coil showed little movement last Friday, holding above $4,500 per metric ton.

The price of Chinese 304 stainless coil remained steady around $2,800 per metric ton. The price of Chinese 316 stainless steel scrap was essentially unchanged. The price of Chinese 304 stainless steel scrap held steady too.

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