Nickel Spot Price Improves Nearly 2% on Daily Index

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The nickel spot price saw a 1.9 percent increase on Aug. 22, 2012, reaching $15,605 per metric ton on the LME and making it the biggest mover for the day. Also on the LME, the 3-month price of nickel increased 1.7 percent to $15,650 per metric ton.

The cash price of primary Indian nickel rose 0.9 percent. The price of Chinese primary nickel gained 0.9 percent as well.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome held steady above $1,300 per metric ton. The price of Chinese ferro-moly saw little movement, staying north of $22,800 per metric ton.

The price of Chinese 316 stainless coil held steady above $4,500 per metric ton. The price of Chinese 304 stainless coil remained essentially flat below $2,800 per metric ton.

The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining above $2,600 per metric ton. Chinese 304 stainless steel scrap prices were also hardly active.

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