LME Nickel Spot Price Changes Direction on Daily Stainless Steel Index

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On Aug. 16, 2012, the day’s biggest mover on the stainless complex was the nickel spot price, which saw a 2.1 percent decline on the LME to $15,225 per metric ton. The LME nickel 3-month price closed at $15,320 per metric ton, weakening by two percent.

The cash price of primary Indian nickel saw a 1.7 percent decline.

Chinese stainless steel and raw material input prices closed mixed on Thursday.

In raw materials, the price of Chinese primary nickel fell 0.2 percent on Thursday after two days of no change. The price of Chinese ferro-chrome and ferro-moly both saw little movement.

The price of Chinese 316 stainless coil showed little movement yesterday above $4,500 per metric ton. The price of Chinese 304 stainless coil continues hovering above $2,800 per metric ton for the fifth day in a row.

For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat above $2,600 per metric ton. The price of Chinese 304 stainless steel scrap remained even keel as well.

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