Spot Price of Nickel Gaining Again

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The nickel spot price rose 2.0 percent on Jan. 3, 2013, making it the day’s biggest mover. After two days of flat prices on the LME, it closed at $17,420 per metric ton. On the LME, the 3-month price of nickel rose 1.7 percent to $17,450 per metric ton. At INR 954.30 ($17.56), the Indian nickel cash price finished the market day up 0.8 percent per kilogram.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,331) per metric ton for the fifth day in a row. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,257) per metric ton.

The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,900 ($4,315) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 18,000 ($2,887) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,600 ($2,663) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap held steady at CNY 18,000 ($2,887) per metric ton. The price of Chinese primary nickel remained essentially flat at CNY 119,300 ($19,135) per metric ton.

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