3-Month Price of Nickel Sees Small Price Drop

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The nickel 3-month price experienced the biggest price decline of the day, dropping 0.3 percent on the LME to close at $17,300 per metric ton on Jan. 28, 2013. After falling for two days, the cash price of primary Indian nickel rose 0.2 percent to INR 931.70 ($17.32) per kilogram. The spot price of nickel remained essentially flat on the LME at $17,260 per metric ton.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,334) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,310) per metric ton.

The price of Chinese primary nickel showed little movement on Monday, hovering around CNY 123,600 ($19,870) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,600 ($4,276) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 17,900 ($2,878) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,600 ($2,669) per metric ton. The price of Chinese 304 stainless steel scrap was unchanged at CNY 17,900 ($2,878) per metric ton.