Daily Cash Price of Primary Indian Nickel Drops

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On Oct. 12, 2012, the Indian nickel cash price fell by 3 percent, making it the day’s biggest mover on MetalMiner’s stainless price index.

On the LME, the nickel 3-month price fell 0.7 percent to $17,700 per metric ton. The spot price of nickel weakened by 0.5 percent on the LME, settling at $17,640 per metric ton.

Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome continues hovering in the same spot for the fifth day in a row. The price of Chinese ferro-moly held steady.

Friday saw the price of Chinese 304 stainless coil drift down 0.5 percent after three quiet days. After three essentially changeless days, the price of Chinese 304 stainless steel scrap dropped 0.5 percent last Friday as well.

The price of Chinese primary nickel rose 0.3 percent after a two-day drop. Chinese 316 stainless coil saw little change in its price last Friday. The price of Chinese 316 stainless steel scrap also saw little movement.

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