Primary Indian Nickel Cash Price Rises 1.5%

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The cash price of primary Indian nickel saw a 1.5 percent increase on Aug. 21, 2012, making it the biggest mover for the day.

The nickel spot price saw a 0.7 percent decline on the LME to $15,325 per metric ton. On the LME, the nickel 3-month price declined 0.6 percent to $15,400 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome moved up a couple dollars per metric ton, For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat, but ended up above the $22,800 per metric ton mark. The price of Chinese primary nickel rose 0.5 percent.

Chinese 316 stainless coil fell one percent on Tuesday. The price of Chinese 304 stainless coil flattened following two days of declines. The price of Chinese 316 stainless steel scrap saw little movement, holding north of $2,600 per metric ton. Following two days of downward movement, the price of Chinese 304 stainless steel scrap held steady below $2,800 per metric ton.

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