Chinese Primary Nickel Price Up After 2-Day Drop On Stainless Index
MetalMiner | Sep 12, 2012 03:32AM ET
The price of Chinese primary nickel rose 3 percent on September 10, 2012, making it the day’s biggest mover on MetalMiner’s stainless price index.
Chinese 304 stainless steel scrap finished the day up 1.7 percent, and Chinese 304 stainless coil prices also inched up 1.7 percent. The price of Chinese 316 stainless coil finished the day following a 0.4 percent increase. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat above $2,600 per metric ton.
The price of Chinese ferro-chrome saw little movement, holding north of $1,300 per metric ton. The price of Chinese ferro-moly held steady below $22,900 per metric ton.
The Indian nickel cash price finished the market day up 2 percent.
On the LME, the 3-month price of nickel rose 0.7 percent to $16,255 per metric ton. Also on the LME, the spot price of nickel increased 0.3 percent to $16,150 per metric ton.
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