The Indian nickel cash price saw the biggest upwards shift for the day on our stainless index, rising 0.7 percent on Sept. 12, 2012.
On the LME, the spot price of nickel rose 0.6 percent to $16,620 per metric ton. At $16,665, the LME nickel 3-month price finished the market day up 0.5 percent per metric ton.
Chinese stainless steel closed mixed yesterday.
Wednesday saw the price of Chinese 316 stainless steel scrap drift down 0.6 percent. Chinese 316 stainless coil stayed flat at below $4,500 per metric ton. The price of Chinese 304 stainless coil held steady, and the price of Chinese 304 stainless steel scrap showed little movement yesterday, holding north of $2,800 per metric ton.
The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining above $1,300 per metric ton. The price of Chinese ferro-moly held steady below $22,900 per metric ton. The price of Chinese primary nickel gained 0.2 percent.