China Primary Nickel Price Nearly 3% Lower on the Day

The price of Chinese primary nickel fell 2.8 percent on Oct. 22, 2012, making it the day’s biggest mover on MetalMiner’s stainless steel price index.

The prices of Chinese 304 and 316 stainless steel coil and scrap were unchanged, seeing no movement for the day.

The price of Chinese ferro-chrome saw little movement as well. For the fifth consecutive day, the price of Chinese ferro-moly held flat.

Following a couple days of improvement, the cash price of primary Indian nickel weakened by 1.7 percent.

On the LME, the nickel 3-month price declined 0.8 percent to $17,065 per metric ton. The spot price of nickel saw a 0.8 percent decline on the LME to $17,000 per metric ton.

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