Cash Price of Primary Indian Nickel Sees Small Jump

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The cash price of primary Indian nickel saw the biggest upwards shift for the day, rising 0.9 percent to close at INR 967.90 ($17.64) per kilogram on Dec. 18, 2012. The spot price of nickel saw a 0.8 percent decline on the LME to $17,550 per metric ton. The 3-month price of nickel weakened by 0.3 percent on the LME, settling at $17,715 per metric ton.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,330) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,231) per metric ton.

The price of Chinese primary nickel declined 0.2 percent to CNY 123,300 ($19,754) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 27,000 ($4,326) per metric ton. Chinese 304 stainless coil saw little change in its price on Tuesday at CNY 18,100 ($2,900) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,600 ($2,660) per metric ton. The price of Chinese 304 stainless steel scrap showed little movement on Tuesday at CNY 18,100 ($2,900) per metric ton.

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