Spot Price of Nickel Lower

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Metal Prices, Premium

Dropping 0.9 percent on the LME, the spot price of nickel was the biggest mover on April 5, 2013, closing at $16,035 per metric ton. The 3-month price of nickel weakened by 0.9 percent on the LME, settling at $16,100 per metric ton. The cash price of primary Indian nickel fell 0.3 percent to INR 874.10 ($15.92) per kilogram.

Chinese stainless steel prices closed flat for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,338) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,373) per metric ton.

The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,700 ($4,304) per metric ton. At CNY 17,800 ($2,869) per metric ton, the price of Chinese 304 stainless coil was essentially unchanged. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,595) per metric ton. Chinese 304 stainless steel scrap saw little change in its price last Friday at CNY 17,800 ($2,869) per metric ton. The price of Chinese primary nickel held steady last Friday, remaining around CNY 113,800 ($18,344) per metric ton.