3-Month Price of Nickel Rises 0.9%

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Metal Prices, Premium

The nickel 3-month price saw the biggest increase at 0.9 percent on the LME, finishing at $16,940 per metric ton for March 22, 2013. After a 0.7 percent increase, the spot price of nickel finished the day on the LME at $16,845 per metric ton. The cash price of primary Indian nickel flattened at INR 914.20 ($16.84) after two days of improvement.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,336) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,339) per metric ton for the fifth day in a row.

At CNY 26,700 ($4,298) per metric ton, the price of Chinese 316 stainless coil was essentially unchanged. Chinese 304 stainless coil saw little change in its price last Friday at CNY 17,800 ($2,865) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,591) per metric ton. The price of Chinese 304 stainless steel scrap showed little movement last Friday at CNY 17,800 ($2,865) per metric ton. The price of Chinese primary nickel showed little movement last Friday at CNY 118,000 ($18,993) per metric ton.