The day’s biggest mover was the nickel spot price which dropped by 1.2 percent on April 12, 2013 to close at $15,950 per metric ton on the LME. On the LME, the nickel 3-month price fell 0.9 percent to $16,050 per metric ton. The Indian nickel cash price saw a 0.3 percent decline to INR 867.80 ($15.98) per kilogram.
Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,339) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,394) 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 ($4,308) per metric ton. At CNY 17,400 ($2,807) per metric ton, the price of Chinese 304 stainless coil was essentially unchanged. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,598) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 17,400 ($2,807) per metric ton. After a couple of days of decreasing prices, the price of Chinese primary nickel held steady at CNY 113,800 ($18,360).