LME Nickel 3-Month Price Improves 1.3%

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On Sept. 13, 2012, the 3-month price of nickel experienced the biggest change on the daily stainless price index, rising 1.3 percent on the LME to $16,875 per metric ton. On the LME, the spot price of nickel rose 1.2 percent to $16,820 per metric ton.

Following a couple days of improvement, the cash price of primary Indian nickel weakened by 0.5 percent.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome ticked up a few dollars per metric ton, while the price of Chinese ferro-moly held above $22,900 per metric ton. The price of Chinese primary nickel inched up 0.4 percent.

The price of Chinese 316 stainless coil remained essentially flat below $4,500 per metric ton. Chinese 304 stainless coil stayed flat above $2,800 per metric ton.

Sitting north of $2,600 per metric ton, the price of Chinese 316 stainless steel scrap was essentially unchanged. Chinese 304 stainless steel scrap saw little change in its price on Thursday as well.

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