Cash Price of Primary Indian Nickel Sees Small Jump

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Metal Prices, Premium

On April 10, 2013, the day’s biggest mover was the Indian nickel cash price, which saw a 0.6 percent increase to INR 880.50 ($16.13) per kilogram. The nickel spot price weakened by 0.4 percent on the LME, settling at $16,065 per metric ton. On the LME, the nickel 3-month price declined 0.4 percent to $16,115 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,338) 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 ($23,370) per metric ton.

Following two days of rising prices, the price of Chinese primary nickel dropped 0.4 percent to CNY 114,200 ($18,406) per metric ton. The price of Chinese 316 stainless coil saw little movement at CNY 26,700 ($4,303) per metric ton. Chinese 304 stainless coil saw little change in its price yesterday at CNY 17,400 ($2,804) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,595) per metric ton. At CNY 17,400 ($2,804) per metric ton, the price of Chinese 304 stainless steel scrap was essentially unchanged.