Indian Nickel Price Up, China 316 Stainless Coil Price Drops

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The cash price of primary Indian nickel saw a 1.1 percent increase on July 30, 2012, making it the biggest mover for the day.

On the LME, the spot price of nickel declined 0.4 percent to $15,855 per metric ton. The nickel 3-month price saw a 0.4 percent decline on the LME to $15,905 per metric ton.

Chinese stainless steel prices were mixed for the day.

After remaining flat for three days, the price of Chinese 316 stainless coil fell 0.7 percent yesterday. The price of Chinese primary nickel rose 0.6 percent.

Chinese 304 stainless coil saw little change in its price on Monday, holding above $2,800 per metric ton. The price of Chinese 316 stainless steel scrap showed little movement on Monday as well.

The price of Chinese 304 stainless steel scrap remained steady, just north of $2,800 per metric ton.

The prices of Chinese ferro-chrome and ferro-moly remained essentially flat.

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