The cash price of primary Indian nickel saw the biggest increase on our stainless steel price index at 1.8 percent for Sept. 6, 2012.
The nickel spot price weakened by 1.6 percent on the LME, settling at $15,830 per metric ton. On the LME, the nickel 3-month price fell 1.5 percent to $15,880 per metric ton. Following two days of rising prices, the price of Chinese primary nickel dropped 0.4 percent.
Chinese stainless steel closed mixed on Thursday.
Chinese 304 stainless coil gained 0.6 percent. After a 0.6 percent increase, Chinese 304 stainless steel scrap finished the day at below $2,800 per metric ton. Chinese 316 stainless coil held its value on Thursday under $4,500 per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat below $2,700 per metric ton.
The price of Chinese ferro-chrome was unchanged, holding above $1,300 per metric ton. The price of Chinese ferro-moly held steady as well, south of $22,900 per metric ton.