Primary Indian Nickel Cash Price Drops 0.8%, Stainless Flat

Following two days of increases, the cash price of primary Indian nickel dropped by 0.8 percent on Nov. 16, 2012, on MetalMiner’s daily stainless price index.

The 3-month price of nickel weakened by 0.3 percent on the LME, settling at $16,050 per metric ton. On the LME, the nickel spot price gained 0.2 percent to finish at $16,010 per metric ton. The price of Chinese primary nickel saw a 0.4 percent decline.

Chinese 304 and 316 stainless coil and scrap all saw little change in their prices last Friday.

For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat, and the price of Chinese ferro-moly saw essentially no change for the fifth day in a row.