Chinese Primary Nickel Declines 4.1%

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With a decline of 4.1 percent to CNY 118,700 ($19,020) per metric ton on Feb. 21, 2013, the price of Chinese primary nickel recorded the biggest decline of the day. Chinese 304 stainless steel scrap saw little change in its price yesterday at CNY 18,000 ($2,884) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,700 ($2,676) per metric ton. The price of Chinese 304 stainless coil showed little movement on Thursday at CNY 18,000 ($2,884) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,800 ($4,294) per metric ton.

The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,330) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,234) per metric ton for the fifth day in a row.

The cash price of primary Indian nickel has been on the decline for 7 days and is now at INR 913.20 ($16.89) per kilogram. The 3-month price of nickel on the LME has been on the decline for 7 days and is now at $17,275 per metric ton. The spot price of nickel saw a 2.2 percent decline on the LME to $17,190 per metric ton.