Spot Price of Nickel Up Again

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

On Feb. 28, 2013, the day’s biggest mover was the nickel spot price, which saw a 1.2 percent increase on the LME to $16,705 per metric ton. This increase comes after the price fell for the two previous days. The 3-month price of nickel rose 1.0 percent on the LME to $16,755 per metric ton after a two-day drop. The cash price of primary Indian nickel weakened by 0.4 percent, settling at INR 895.70 ($16.63) per kilogram.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,333) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,285) per metric ton.

Chinese 316 stainless coil stayed flat at around CNY 26,500 ($4,256) per metric ton. Chinese 304 stainless coil held its value yesterday at CNY 17,700 ($2,842) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,700 ($2,682) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 17,700 ($2,842) per metric ton. The price of Chinese primary nickel saw little change in its price on Thursday at CNY 119,000 ($19,110) per metric ton.