Indian Nickel Prices Improve 2% While Stainless Steel Complex Steadies

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On Aug. 14, 2012, the Indian nickel cash price experienced the biggest change, rising two percent.

After falling for two days, the nickel 3-month price rose one percent on the LME to $15,400 per metric ton. The spot price of nickel rose 0.5 percent on the LME to $15,300 per metric ton after a two-day drop.

Chinese stainless steel prices closed flat for the day.

The price of Chinese 316 stainless coil remained essentially flat above $4,500 per metric ton. The price of Chinese 304 stainless coil saw little movement, and Chinese 316 stainless steel scrap saw little change in its price yesterday as well. The price of Chinese 304 stainless steel scrap held steady north of $2,800 per metric ton.

The price of Chinese primary nickel steadied above $17,500 per metric ton following two-days of dropping prices. The prices of Chinese ferro-chrome and Chinese ferro-moly saw essentially no change again.

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