3-Month Price of Nickel 1.5% Lower

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On Jan. 22, 2013, the day’s biggest mover was the 3-month price of nickel, which saw a 1.5 percent decline on the LME to $17,425 per metric ton. The nickel spot price declined 1.4 percent on the LME to $17,360 per metric ton, after two days of improvement. The cash price of primary Indian nickel declined 0.9 percent to INR 932.90 ($17.35) per kilogram.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,334) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,306) per metric ton.

The price of Chinese primary nickel saw little change in its price yesterday at CNY 123,800 ($19,898) per metric ton. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,600 ($4,275) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 17,900 ($2,877) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,600 ($2,668) per metric ton. Chinese 304 stainless steel scrap stayed flat at around CNY 17,900 ($2,877) per metric ton.

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