Cash Price of Primary Indian Nickel Improves 1.5%

 Rising 1.5 percent to close at INR 945.80 ($17.54) per kilogram, the cash price of primary Indian nickel experienced the biggest change for Jan. 29, 2013. After falling for two days, the nickel 3-month price rose 1.0 percent on the LME to $17,480 per metric ton. After a 0.8 percent increase, the nickel spot price finished the day on the LME at $17,405 per metric ton.

Chinese stainless steel closed mixed on Tuesday. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,333) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,295) per metric ton.

The price of Chinese 304 stainless coil increased 0.6 percent to CNY 18,000 ($2,892) per metric ton. The price of Chinese 304 stainless steel scrap finished the day at CNY 18,000 ($2,892) per metric ton following a 0.6 percent increase. The price of Chinese primary nickel increased 0.5 percent to CNY 124,200 ($19,953) per metric ton. The price of Chinese 316 stainless coil saw little movement at CNY 26,600 ($4,273) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,600 ($2,667) per metric ton.