Spot Price of Nickel Drops Off on Daily Index

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On Oct. 9, 2012, the day’s biggest mover on MetalMiner’s stainless price index was the nickel spot price, which saw a 3.4 percent decline on the LME to $17,925 per metric ton.

A $620 decline in the 3-month price of nickel on the LME left the price at $17,975 per metric ton.

The cash price of primary Indian nickel rose 0.3 percent after a two-day drop.

Chinese stainless steel and raw material input prices were mixed for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat, and the price of Chinese ferro-moly continues hovering in the same spot.

The price of Chinese primary nickel saw a 0.8 percent decline, but Chinese 304 and 316 stainless coil and scrap prices continued to hold steady.

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