Rising 3.5 percent to close at $18,240 per metric ton, the 3-month price of nickel experienced the biggest change on the LME for Jan. 31, 2013. The spot price of nickel experienced a big shift yesterday, gaining 3.4 percent on the LME to finish at $18,200 per metric ton.
Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, and the price of Chinese ferro-moly saw little movement.
Closing out a three-day flat streak, the price of Chinese 316 stainless coil moved up 1.5 percent. The price of Chinese 304 stainless coil remained essentially flat. The price of Chinese 316 stainless steel scrap was essentially unchanged. Chinese 304 stainless steel scrap saw little change in its price on Thursday as well.