Spot Price of Nickel Shifts Up 0.6%

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On Jan. 18, 2013, the spot price of nickel experienced the biggest change, rising 0.6 percent on the LME to $17,380 per metric ton. On the LME, the 3-month price of nickel rose 0.5 percent to $17,460 per metric ton. At INR 950.50 ($17.48), the Indian nickel cash price finished the market day up 0.5 percent per kilogram.

Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,335) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,315) per metric ton.

The price of Chinese primary nickel gained 0.4 percent to finish at CNY 123,700 ($19,890) per metric ton. The price of Chinese 316 stainless coil remained steady at CNY 26,600 ($4,277) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 17,900 ($2,878) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,600 ($2,669) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 17,900 ($2,878) per metric ton.

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