Spot Price of Nickel Improves Slightly on LME, Chinese Stainless Down

On Sept. 4, 2012, the nickel spot price experienced the biggest change on our stainless price index, rising 1.4 percent on the LME to $16,100 per metric ton. Also on the LME, the 3-month price of nickel gained 1.2 percent to finish at $16,150 per metric ton.

The Indian nickel cash price increased 0.1 percent.

Chinese stainless steel prices were mixed for the day.

The price of Chinese 316 stainless coil fell 0.7 percent on Tuesday after three straight days with no change. After remaining flat for three days, the price of Chinese 304 stainless coil fell 0.6 percent yesterday. The price of Chinese 304 stainless steel scrap fell 0.6 percent yesterday as well.

For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat above $2,600 per metric ton.

The price of Chinese primary nickel finished the market day up 0.3 percent per metric ton. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat, holding above $1,300 per metric ton. The price of Chinese ferro-moly remained steady as well, remaining north of $22,800 per metric ton.

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