The cash price of primary Indian nickel saw a 1.5 percent drop on Oct. 17, 2012, making it the biggest mover of the day on MetalMiner’s stainless steel price index.
The nickel spot price on the LME has been on the decline for 7 days and is now at $17,025 per metric ton. The LME nickel 3-month price has been on the decline for 7 days and is now at $17,135 per metric ton.
Chinese stainless steel closed mixed yesterday.
The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, and the price of Chinese ferro-moly held steady. The price of Chinese primary nickel saw a 0.4 percent decline.