Cash Price of Primary Indian Nickel Shifts Up 2.0%

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Rising 2.0 percent to close at INR 922.00 ($16.94) per kilogram, the Indian nickel cash price experienced the biggest change for March 12, 2013. At $16,645, the spot price of nickel finished the market day on the LME up 0.5 percent per metric ton. On the LME, the 3-month price of nickel gained 0.4 percent to finish at $16,695 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,334) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,302) per metric ton.

After a 0.2 percent increase, the price of Chinese primary nickel finished the day at CNY 117,900 ($18,947) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,500 ($4,259) per metric ton. Chinese 304 stainless coil held its value yesterday at CNY 17,600 ($2,828) per metric ton. The price of Chinese 316 stainless steel scrap showed little movement yesterday at 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.