Cash Price of Primary Indian Nickel Rises 1.1%

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The cash price of primary Indian nickel saw the biggest upwards shift for the day, rising 1.1 percent to close at INR 946.30 ($17.30) per kilogram on Jan. 2, 2013. On the LME, the 3-month price of nickel increased 0.3 percent to $17,155 per metric ton. On the LME, the spot price of nickel showed little movement on Wednesday, hovering around $17,080 per metric ton.

Chinese stainless steel prices closed flat for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,330) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,242) per metric ton for the fifth day in a row.

The price of Chinese 316 stainless coil remained essentially flat at CNY 26,900 ($4,312) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 18,000 ($2,885) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,600 ($2,661) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 18,000 ($2,885) per metric ton. The price of Chinese primary nickel saw little movement on Wednesday, closing out around CNY 119,300 ($19,123) per metric ton.

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