Spot Price Of LME Nickel Improves 1.6%, But Rest of Stainless Complex Quiet

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The nickel spot price saw a 1.6 percent increase on August 15, 2012, reaching $15,550 per metric ton on the LME and making it the biggest mover for the day. On the LME, the nickel 3-month price rose 1.5 percent to $15,625 per metric ton.

After a couple of days of improving prices, the cash price of primary Indian nickel held steady.

Chinese stainless steel prices were flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat above $1,300 per metric ton. The price of Chinese ferro-moly was unchanged below $22,800 per metric ton.

The price of Chinese primary nickel remained essentially flat, as did Chinese 316 stainless coil, 304 stainless coil, 316 stainless steel scrap, and 304 stainless steel scrap.

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