Primary Indian Nickel Cash Price Flounders, China Stainless Falls

On Oct. 23, 2012, the cash price of primary Indian nickel fell by 3.4 percent, making it the day’s biggest mover on MetalMiner’s stainless price index.

The spot price of nickel weakened by 1.6 percent on the LME, settling at $16,725 per metric ton. On the LME, the 3-month price of nickel fell 1.5 percent to $16,810 per metric ton. The price of Chinese primary nickel saw a 1 percent decline.

Prices of Chinese stainless steel were down across the board on Tuesday.

After remaining flat for three days, the price of Chinese 304 stainless coil fell 1.1 percent on Tuesday, as did the price of Chinese 304 stainless steel scrap after three quiet days.

The price of Chinese 316 stainless coil moved down on Tuesday. After a few changeless days, prices dropped 0.7 percent. After three straight days of no change, the price of Chinese 316 stainless steel scrap decreased by 0.6 percent.

The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,327) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,179) per metric ton.

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