LME Nickel Prices Drop, But China and India Nickel Up

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The nickel spot price fell 0.9 percent on Nov. 26, 2012 to $16,525 per metric ton on the LME, making it the day’s biggest mover on MetalMiner’s stainless price index. Following two days of rising prices, the 3-month price of nickel dropped 0.8 percent on the LME to $16,595 per metric ton.

real stainless steel pricing - MetalMiner IndXThe Indian nickel cash price gained 0.9 percent. The price of Chinese primary nickel also increased, by 0.8 percent.

Chinese stainless steel closed mixed yesterday. For the fifth consecutive day, the prices of Chinese 304 and 316 stainless coil and scrap held flat.

The price of Chinese ferro-chrome continues hovering above $1,300 per metric ton, while the price of Chinese ferro-moly was unchanged.

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