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.