After Two-Day Rise, Nickel 3-Month Price Falls

by on
Style:
Category:
Members Only, Metal Prices, Premium

Following two days of increases on the LME, the 3-month price of nickel dropped by 0.1 percent to end at $18,350 per metric ton on Feb. 15, 2013. The nickel spot price remained essentially flat on the LME at $18,290 per metric ton. The cash price of primary Indian nickel held steady around INR 984.80 ($18.26) per kilogram.

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 ($1,332) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,261) per metric ton.

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 saw little movement at CNY 18,400 ($2,952) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,700 ($2,679) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 18,400 ($2,952) per metric ton. The price of Chinese primary nickel held steady at CNY 130,700 ($20,967) per metric ton.