Nickel 3-Month Price Shifts Up 0.2%

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The 3-month price of nickel saw a 0.2 percent increase on Feb. 14, 2013, reaching $18,370 per metric ton on the LME and making it the biggest mover for the day. At INR 985.20 ($18.30), the Indian nickel cash price finished the market day up 0.1 percent per kilogram. After a couple of days of improving prices on the LME, the spot price of nickel held steady at $18,280.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,331) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,260) per metric ton.

For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 27,000 ($4,331) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 18,400 ($2,952) per metric ton. The price of Chinese 316 stainless steel scrap held steady 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 was unchanged at CNY 130,700 ($20,966) per metric ton.