With a decline of 1.2 percent on the LME to $16,185 per metric ton on April 4, 2013, the nickel spot price recorded the biggest decline of the day. The nickel 3-month price weakened by 1.2 percent on the LME, settling at $16,245 per metric ton. The Indian nickel cash price saw a 0.5 percent decline to INR 876.40 ($16.10) per kilogram.
Chinese stainless steel prices closed flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,338) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,380) per metric ton.
The price of Chinese 316 stainless coil saw little movement at CNY 26,700 ($4,305) per metric ton. Chinese 304 stainless coil stayed flat at around CNY 17,800 ($2,870) 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 ($2,596) per metric ton. Chinese 304 stainless steel scrap held its value on Thursday at CNY 17,800 ($2,870) per metric ton. The price of Chinese primary nickel held steady around CNY 113,800 ($18,349) per metric ton.