Cash Price of Primary Indian Nickel Sees Small Jump

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 The Indian nickel cash price saw a 0.9 percent increase on March 20, 2013, reaching INR 909.30 ($16.71) per kilogram and making it the biggest mover for the day. After a 0.3 percent increase, the spot price of nickel finished the day on the LME at $16,605 per metric ton. At $16,655, the nickel 3-month price finished the market day on the LME up 0.2 percent per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,336) per metric ton for the fifth day in a row. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,334) per metric ton.

The price of Chinese primary nickel saw a 0.5 percent decline to CNY 116,400 ($18,731) per metric ton. Chinese 316 stainless coil held its value yesterday at CNY 26,700 ($4,297) per metric ton. Chinese 304 stainless coil stayed flat at around CNY 17,800 ($2,864) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,591) per metric ton. The price of Chinese 304 stainless steel scrap showed little movement on Wednesday at CNY 17,800 ($2,864) per metric ton.