Cash Price of Primary Indian Nickel Shifts Up 1%

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On Jan. 9, 2013, the cash price of primary Indian nickel experienced the biggest change, rising 1.0 percent to INR 958.40 ($17.42) per kilogram. The 3-month price of nickel weakened by 0.5 percent on the LME, settling at $17,200 per metric ton. The nickel spot price saw a 0.4 percent decline on the LME to $17,140 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,333) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,286) per metric ton.

The price of Chinese primary nickel rose 0.2 percent to CNY 122,200 ($19,624) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,900 ($4,320) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 18,000 ($2,891) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,600 ($2,666) per metric ton. The price of Chinese 304 stainless steel scrap was unchanged at CNY 18,000 ($2,891) per metric ton.

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