Cash Price of Primary Indian Nickel Up After Two-Day Decline

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On Jan. 23, 2013, the day’s biggest mover was the Indian nickel cash price, which saw a 0.8 percent increase to INR 939.90 ($17.47) per kilogram. This increase comes after the price fell for the two previous days. The 3-month price of nickel weakened by 0.1 percent on the LME, settling at $17,405 per metric ton. The spot price of nickel showed little movement on Wednesday on the LME at $17,370 per metric ton.

Chinese stainless steel prices were flat 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 saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,297) per metric ton.

The price of Chinese primary nickel remained essentially flat at CNY 123,700 ($19,875) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,600 ($4,274) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 17,900 ($2,876) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,600 ($2,667) per metric ton. At CNY 17,900 ($2,876) per metric ton, the price of Chinese 304 stainless steel scrap was essentially unchanged.

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