With a 1.7 percent increase over the past day, the spot price of LME nickel was the biggest mover on MetalMiner’s stainless price index, closing at $16,100 per metric ton on Sept. 7, 2012. Following a 1.7 percent rise last Friday, the 3-month price of nickel closed on the LME at $16,150 per metric ton.
The Indian nickel cash price fell 0.5 percent.
Chinese stainless steel prices were mixed for the day.
The price of Chinese ferro-chrome saw little movement, holding above $1,300 per metric ton. The price of Chinese ferro-moly remained essentially flat above $22,800 per metric ton. The price of Chinese primary nickel weakened by 0.2 percent.
At below $4,500 per metric ton, the price of Chinese 316 stainless coil was essentially unchanged. The price of Chinese 304 stainless coil held steady under $2,800 per metric ton. The price of Chinese 316 stainless steel scrap held steady above $2,600 per metric ton. The price of Chinese 304 stainless steel scrap remained steady below $2,800 per metric ton.