With a decline of 2.6 percent on the LME to $16,750 per metric ton on Feb. 22, 2013, the spot price of nickel recorded the biggest decline of the day. The 3-month price of nickel on the LME has been on the decline for 7 days and is now at $16,840 per metric ton.
The Indian nickel cash price has been on the decline for 7 days. After falling for two days, the price of Chinese primary nickel rose 0.7 percent.
Chinese 304 stainless coil ended the day after a 0.6 percent drop last Friday. Chinese 304 stainless steel scrap closed 0.6 percent lower as well. The price of Chinese 316 stainless coil remained essentially flat. Chinese 316 stainless steel scrap held its value last Friday.