Cash Price of Primary Indian Nickel Rises 0.5%

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The Indian nickel cash price saw a 0.5 percent increase on March 6, 2013, reaching INR 906.60 ($16.50) per kilogram and making it the biggest mover for the day. The spot price of nickel saw a 0.2 percent decline on the LME to $16,505 per metric ton. On the LME, the nickel 3-month price fell 0.2 percent to $16,570 per metric ton.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,333) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,295) per metric ton.

The price of Chinese 316 stainless coil continues hovering around CNY 26,500 ($4,257) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil held steady at CNY 17,600 ($2,828) per metric ton. Chinese 316 stainless steel scrap stayed flat at around CNY 16,100 ($2,587) per metric ton. At CNY 17,600 ($2,828) per metric ton, the price of Chinese 304 stainless steel scrap was essentially unchanged. The price of Chinese primary nickel saw little movement yesterday, closing out around CNY 117,700 ($18,909) per metric ton.