Spot Price of LME Nickel Switches Direction on Daily Index

The spot price of nickel fell 2.5 percent on Sept. 3, 2012 to $15,870 per metric ton on the LME, making it the day’s biggest mover. The 3-month price of LME nickel closed at $15,960 per metric ton, weakening by 2.4 percent.

The cash price of primary Indian nickel rose one percent on the day.

Chinese stainless steel closed mixed last Friday.

Chinese 316 stainless coil held its value last Friday, below $4,500 per metric ton. The price of Chinese 304 stainless coil held steady below $2,800 per metric ton. The price of Chinese 316 stainless steel scrap was essentially unchanged. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat as well, resting south of $2,800 per metric ton.

The price of Chinese primary nickel saw a 0.8 percent decline, while prices of Chinese ferro-chrome and Chinese ferro-moly each held flat.

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