Indian Nickel Price Drops

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The 3-month price of nickel on the LME closed at $18,325 per metric ton on Feb. 13, 2013. Following two days of rising prices, the Indian nickel cash price dropped 0.2 percent to INR 984.20 ($18.27) per kilogram. At $18,285, the nickel spot price finished the market day on the LME up 0.2 percent per metric ton.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,332) 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 ($23,262) per metric ton.

The price of Chinese 316 stainless coil held steady at CNY 27,000 ($4,332) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 18,400 ($2,952) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,700 ($2,679) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 18,400 ($2,952) per metric ton for the fifth day in a row. The price of Chinese primary nickel remained essentially flat at CNY 130,700 ($20,968) per metric ton.