Cash Price of Primary Indian Nickel Gains on Daily Index
On Thursday, August 8, the day’s biggest mover was the cash price of primary Indian nickel, which saw a 3.8 percent increase. The nickel 3-month price closed at $13,650 per metric ton. Following a couple days of improvement, prices fell by 2.3 percent on the LME. The nickel spot price declined 0.3 percent on the LME to $13,850 per metric ton, after two days of improvement.
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The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, and Chinese ferro-moly saw little movement.
After falling for two days, the price of Chinese primary nickel rose 1.7 percent. The price of Chinese 304 and 316 stainless coil and scrap held steady.
Don’t forget to read July 2013 MMI analysis before August’s report comes out next week!