The Nickel Market
On April 25, 2012, the day’s biggest mover was the price of Chinese primary nickel, which saw a 0.6 percent decline to CNY 130,750 ($20,737) per metric ton. On the LME, the 3-month price of nickel rose 0.2 percent to $17,660 per metric ton. The LME price of primary nickel saw little change in its price on Wednesday at $17,600 per metric ton.
Chinese Stainless Prices
The price of Chinese 316 stainless steel scrap increased 0.6 percent to CNY 18,200 ($2,886) per metric ton. The Chinese 304 stainless steel scrap price showed little movement on Wednesday at CNY 18,600 ($2,950) per metric ton. The price of Chinese 304 stainless coil remained steady at CNY 18,600 ($2,950) per metric ton. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 32,000 ($5,075) per metric ton.
The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,316) per metric ton for the fifth day in a row. Also for the fifth straight day, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($22,997) per metric ton.