Nickel 3-Month Price Sees Small Decrease on LME

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On Aug. 13, 2012, the day’s biggest mover on stainless markets was the nickel 3-month price, which saw a 1.6 percent decline on the LME to $15,255 per metric ton. Also on the LME, the spot price of nickel fell 1.5 percent to $15,220 per metric ton.

The cash price of primary Indian nickel rose 0.7 percent after a two-day drop.

Chinese raw materials and finished stainless steel prices closed mixed yesterday.

The price of Chinese ferro-chrome remained essentially flat, holding north of $1,300 per metric ton, as it has for ages. The price of Chinese ferro-moly also held steady  — par  for the course — at below $22,800 per metric ton.  The price of Chinese primary nickel saw a 0.4 percent decline.

Monday saw the price of Chinese 316 stainless coil drift down 0.7 percent after three quiet days. The price of Chinese 304 stainless coil remained essentially flat above $2,800 per metric ton.

At north of $2,600 per metric ton, the price of Chinese 316 stainless steel scrap was essentially unchanged. The price of Chinese 304 stainless steel scrap was unchanged, above $2,800 per metric ton.

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