Cash Price of Primary Indian Nickel Declines 1.7%

On March 27, 2013, the day’s biggest mover was the Indian nickel cash price, which saw a 1.7 percent decline to INR 904.60 ($16.64) per kilogram. After a0.1 percent increase, the nickel 3-month price finished the day on the LME at $17,025 per metric ton. On the LME, the nickel spot price rose 0.1 percent to $16,945 per metric ton.

Chinese stainless steel prices were flat 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 ($1,336) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,341) per metric ton.

The price of Chinese primary nickel saw little movement on Wednesday at CNY 117,800 ($18,962) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,700 ($4,298) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 17,800 ($2,865) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,592) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 17,800 ($2,865) per metric ton.