The cash price of primary Indian nickel moved up 0.7 percent on Oct. 25, 2012, making it the day’s biggest mover on our stainless price index.
After falling for two days, the spot price of nickel rose 0.7 percent on the LME to $16,290 per metric ton. After a couple of days of decreasing prices on the LME, the nickel 3-month price held steady at $16,300.
Chinese stainless steel and raw material input prices closed mixed on Thursday.
The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, and Chinese ferro-moly prices remained essentially flat. The price of Chinese primary nickel is back up, rising by 0.5 percent on Thursday.
After dropping for two days, the price of Chinese 316 stainless coil flattened, and the price of Chinese 304 stainless coil was essentially unchanged. China prices for 304 and 316 stainless steel scrap also didn’t move.