Cash Price of Primary Indian Nickel Improves Slightly

The Indian nickel cash price saw the biggest upwards shift for the day on our stainless steel index, rising 0.2 percent on Aug. 30, 2012.

At $16,230 per metric ton, the spot price of nickel finished the market day on the LME up 0.2 percent. Also on the LME, the 3-month price of nickel rose 0.2 percent to $16,275 per metric ton.

Chinese stainless steel prices were mixed for the day.

Chinese 316 stainless coil stayed flat below $4,500 per metric ton. The price of Chinese 304 stainless coil was unchanged, below $2,800 per metric ton. The price of Chinese 316 stainless steel scrap remained steady, and the price of Chinese 304 stainless steel scrap continues hovering below $2,800 per metric ton for the fifth day in a row.

The price of Chinese primary nickel declined 0.2 percent, while the price of Chinese ferro-chrome saw essentially no change, remaining around $1,300 per metric ton, and the price of Chinese ferro-moly remained essentially flat above $22,800 per metric ton.

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