Nickel Spot Price Down

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On Jan. 25, 2013, the day’s biggest mover was the nickel spot price, which saw a 1.1 percent decline on the LME to $17,275 per metric ton. The nickel 3-month price saw a 0.9 percent decline on the LME to $17,350 per metric ton. The Indian nickel cash price weakened by 0.2 percent, settling at INR 929.60 ($17.32) per kilogram.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,334) per metric ton for the fifth day in a row. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,311) per metric ton.

After holding steady for the past few days, the price of Chinese primary nickel fell 0.2 percent, closing at CNY 123,500 ($19,854) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 26,600 ($4,276) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 17,900 ($2,878) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,600 ($2,669) per metric ton. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 17,900 ($2,878) per metric ton.

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