Cash Price of Primary Indian Nickel Lower

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Metal Prices, Premium

The day’s biggest mover was the Indian nickel cash price which dropped by 1.2 percent on April 11, 2013 to close at INR 870.00 ($15.95) per kilogram. On the LME, the 3-month price of nickel inched up 0.5 percent to $16,200 per metric ton. On the LME, the nickel spot price increased 0.5 percent to $16,140 per metric ton.

Chinese stainless steel closed mixed on Thursday. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,339) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,400) per metric ton.

The price of Chinese primary nickel declined 0.4 percent to CNY 113,800 ($18,365) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,700 ($4,309) per metric ton. Chinese 304 stainless coil stayed flat at around CNY 17,400 ($2,808) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,598) per metric ton. The price of Chinese 304 stainless steel scrap showed little movement yesterday at CNY 17,400 ($2,808) per metric ton.