The nickel spot price traded sideways, keeping at $17,095 per metric ton on the LME on Dec. 31, 2012. The nickel 3-month price held steady on Monday on the LME, remaining around $17,100 per metric ton. The cash price of primary Indian nickel flattened at INR 935.70 ($17.01) per kilogram after two days of downward movement.
Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,332) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,268) per metric ton.
At CNY 26,900 ($4,317) per metric ton, the price of Chinese 316 stainless coil was essentially unchanged. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 18,000 ($2,888) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,600 ($2,664) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap held steady at CNY 18,000 ($2,888) per metric ton. The price of Chinese primary nickel held steady around CNY 119,300 ($19,144) per metric ton.