Cash Price Of Primary Indian Nickel Improves Slightly

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With a 1.8 percent increase over the past day, the Indian nickel cash price was the biggest mover on August 23, 2012. On the LME, the nickel 3-month price inched up 1.3 percent to $15,850 per metric ton. Also on the LME, the nickel spot price rose 0.9 percent to $15,750 per metric ton.

Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at around $1,300 per metric ton. The price of Chinese ferro-moly remained essentially flat slightly above $22,800 per metric ton.

The price of Chinese 304 stainless coil increased 0.6 percent. The price of Chinese 304 stainless steel scrap finished the day just below $2,790 per metric ton following a 0.6 percent increase. After a 0.4 percent increase, the price of Chinese primary nickel finished the day at about $18,007 per metric ton. Chinese 316 stainless coil stayed flat at around $4,530 per metric ton. The price of Chinese 316 stainless steel scrap continues hovering just below $2,630 per metric ton for the fifth day in a row.

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