Nickel Spot Price Switches Direction

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Following two days of increases on the LME, the spot price of nickel dropped by 1.3 percent on the stainless price index to end at $17,300 per metric ton on Jan. 7, 2013.

Weakening prices followed two days of improvement as the nickel 3-month price dropped 1.1 percent on the LME to $17,400 per metric ton.

real stainless steel pricing - MetalMiner IndXThe cash price of primary Indian nickel fell 0.3 percent. Meanwhile, the price of Chinese primary nickel increased 0.4 percent.

Chinese 304 and 316 stainless steel coil and scrap prices closed flat again yesterday.

For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly saw little movement.

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