Cash Price Of Primary Indian Nickel Shifts Up 1.4% on Stainless Index

The Indian nickel cash price moved up 1.4 percent on Aug. 7, 2012, making it the day’s biggest mover on MetalMiner’s stainless steel and raw material inputs index.

The 3-month price of nickel is back up, rising by 0.8 percent on the LME on Tuesday to close at $15,525 per metric ton. After falling for two days, the nickel spot price rose 0.5 percent on the LME to $15,450 per metric ton.

Chinese stainless steel closed mixed yesterday.

For the fifth consecutive day, the price of Chinese ferro-chrome held flat above $1,300 per metric ton, while the price of Chinese ferro-moly saw little movement again.

Chinese primary nickel prices finished the market day up 0.9 percent per metric ton.

The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining in the mid-$4,000 per metric ton range. The price of Chinese 304 stainless coil remained steady just north of $2,800 per metric ton.

For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat, holding above $2,600 per metric ton. Chinese 304 stainless steel scrap stayed flat at around $2,800 per metric ton.

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