Nickel 3-Month Price Shifts Up 1.3%

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The 3-month price of nickel saw the biggest increase at 1.3 percent on the LME, finishing at $17,695 per metric ton for Jan. 21, 2013. On the LME, the spot price of nickel gained 1.3 percent to finish at $17,610 per metric ton. The Indian nickel cash price declined 1.0 percent to INR 941.30 ($17.51) per kilogram.

Chinese stainless steel prices were flat 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 was unchanged at CNY 145,000 ($23,331) per metric ton.

Chinese 316 stainless coil held its value last Friday at CNY 26,600 ($4,280) per metric ton. Chinese 304 stainless coil saw little change in its price last Friday at CNY 17,900 ($2,880) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,600 ($2,671) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 17,900 ($2,880) per metric ton. The price of Chinese primary nickel remained essentially flat at CNY 123,700 ($19,903) per metric ton.

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