Chinese Primary Nickel Hits 30-Day Price Low

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Metal Prices, Premium

On April 15, 2013, the price of Chinese primary nickel fell by 3.6 percent, landing at CNY 109,700 ($17,701) per metric ton and making it the day’s biggest mover. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 17,400 ($2,808) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,598) per metric ton. The price of Chinese 304 stainless coil saw little movement at CNY 17,400 ($2,808) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,700 ($4,308) per metric ton.

The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,339) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,397) per metric ton for the fifth day in a row.

The cash price of primary Indian nickel declined 2.7 percent to INR 844.10 ($15.48) per kilogram. The 3-month price of nickel weakened by 0.2 percent on the LME, settling at $16,015 per metric ton. On the LME, the nickel spot price fell 0.1 percent to $15,930 per metric ton.