Nickel Prices Gain on LME, in China and India

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At $17,520 per metric ton, the LME nickel spot price moved up 5.1 percent on Sept. 17, 2012, making it the day’s biggest mover on MetalMiner’s stainless price index.

At $17,550, the nickel 3-month price finished the market day on the LME up 4.9 percent. Meanwhile, the Indian nickel cash price rose 1 percent and the price of Chinese primary nickel jumped 3 percent.

Chinese stainless steel closed mixed yesterday.

For the fifth consecutive day, the price of Chinese 316 stainless coil held flat below $4,500 per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining in the mid-$2,800s per metric ton.

Chinese 316 stainless steel scrap saw little change in its price on Monday, and the price of Chinese 304 stainless steel scrap continues to hover north of $2,800 per metric ton for the fifth day in a row.

The price of Chinese ferro-chrome is still staying above $1,300 per metric ton, and the price of Chinese ferro-moly remained essentially flat, not being able to break $23,000 per metric ton.

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