On Aug. 24, 2012, the spot price of nickel experienced the biggest change on our stainless steel index, rising 2.4 percent on the LME to $16,130 per metric ton. After a 2.2 percent increase, the nickel 3-month price finished the day on the LME at $16,200 per metric ton.
The cash price of primary Indian nickel finished the market day up 2.2 percent per kilogram.
Chinese stainless steel prices and key raw materials closed mixed last Friday.
The price of Chinese ferro-chrome was unchanged above $1,300 per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat above $22,800 per metric ton. The price of Chinese primary nickel inched up 0.4 percent.
The price of Chinese 316 stainless coil remained essentially flat at above $4,500 per metric ton. At below $2,800 per metric ton, the price of Chinese 304 stainless coil was essentially unchanged.
The prices of Chinese 316 stainless steel scrap and 304 stainless steel scrap both held steady as well.