Chinese Primary Nickel, 316 Stainless Scrap Prices Drop

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The price of Chinese primary nickel closed Feb. 18, 2013 on a downward slide, halting its three-day flat run with a 2 percent drift.

After remaining flat for three days, the price of Chinese 316 stainless steel scrap fell 1.8 percent last Friday. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat. The price of Chinese 304 stainless coil remained essentially flat. The price of Chinese 316 stainless coil was unchanged.

today's metal prices - MetalMiner IndXThe price of Chinese ferro-chrome held steady. The price of Chinese ferro-moly continues hovering in place for the fifth day in a row.

The cash price of primary Indian nickel declined 1.1 percent. The LME spot price of nickel fell 0.3 percent to $18,230 per metric ton last Friday after two days of no change. The 3-month price of nickel weakened by 0.3 percent on the LME, settling at $18,300 per metric ton.