With a decline of 1.8 percent on the LME to $16,250 per metric ton on Aug. 29, 2012, the nickel 3-month price recorded the biggest decline of the day on our stainless steel price index. On the LME, the nickel spot price declined 1.4 percent to $16,200 per metric ton.

The Indian nickel cash price saw little movement on Wednesday, closing between $15-20 per kilogram.

Chinese stainless steel prices closed flat for the day.

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

Chinese 316 and 304 stainless steel scrap and Chinese primary nickel prices saw little change yesterday.

The prices of Chinese ferro-chrome and ferro-moly were unchanged as well.

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