The price of Chinese primary nickel saw the biggest increase on MetalMiner’s stainless price index at 3.7 percent for Sept. 14, 2012.
The price of Chinese 304 stainless steel scrap remained steady above $2,800 per metric ton. Above $2,600 per metric ton, the price of Chinese 316 stainless steel scrap was essentially unchanged. The price of Chinese 304 stainless coil remained essentially flat above $2,800 per metric ton. The price of Chinese 316 stainless coil held steady close to $4,500 per metric ton.
The price of Chinese ferro-chrome remained essentially flat above $1,300 per metric ton. The price of Chinese ferro-moly was unchanged as well.
Friday closed the cash price of primary Indian nickel with a 3.7 percent increase. Following a couple days of improvement, the 3-month price of nickel weakened by 0.9 percent on the LME. Prices closed at $16,725 per metric ton. The spot price of LME nickel changed direction with a 0.9 percent drop. After two days of improving prices, the metal finished at $16,675 per metric ton.