Nickel 3-Month Price Improves 0.9%

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On Jan. 17, 2013, the 3-month price of nickel experienced the biggest change, rising 0.9 percent on the LME to $17,375 per metric ton. The Indian nickel cash price fell 0.7 percent to INR 946.00 ($17.30) per kilogram. At $17,280, the spot price of nickel finished the market day on the LME up 0.6 percent per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,334) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,310) per metric ton.

After holding steady for the past few days, the price of Chinese 304 stainless coil fell 0.6 percent, closing at CNY 17,900 ($2,878) per metric ton. The price of Chinese 304 stainless steel scrap fell 0.6 percent on Thursday to CNY 17,900 ($2,878) per metric ton after three straight days with no change. The price of Chinese primary nickel saw a 0.5 percent decline to CNY 123,200 ($19,805) per metric ton. The price of Chinese 316 stainless coil remained steady at CNY 26,600 ($4,276) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,600 ($2,669) per metric ton for the fifth day in a row.

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