Chinese Primary Nickel Price Lower

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Metal Prices, Premium

The price of Chinese primary nickel experienced the biggest price decline of the day, dropping 0.9 percent to close at CNY 116,550 ($18,760) per metric ton on 2013-03-29 07:45:40. The price of Chinese 304 stainless steel scrap was unchanged at CNY 17,800 ($2,865) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,591) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 17,800 ($2,865) 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 ferro-chrome saw little movement at CNY 8,300 ($1,336) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,339) per metric ton.

On the LME, the spot price of nickel declined 0.8 percent to $16,535 per metric ton. On the LME, the 3-month price of nickel fell 0.1 percent to $16,695 per metric ton. The Indian nickel cash price flattened at INR 899.50 ($16.57) per kilogram after two days of downward movement.