With a decline of 1.1 percent on the LME to $17,730 per metric ton on Oct. 11, 2012, the spot price of nickel recorded the biggest decline of the day on MetalMiner’s stainless price index.
Also on the LME, the nickel 3-month price fell 0.8 percent to $17,825 per metric ton. Weakening prices followed two days of improvement as the Indian nickel cash price dropped 0.5 percent. The price of Chinese primary nickel declined 0.8 percent.
Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome remained essentially flat, and Chinese ferro-molybdenum was unchanged.
The prices of Chinese 304 and 316 stainless coil and scrap showed little movement yesterday.