Nickel Spot Price Changes Directions on Daily Index

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The biggest change on MetalMiner’s daily stainless price index came when the spot price of nickel shot out of a two-day slump with a 2 percent improvement on the LME to close at $17,130 per metric ton.

Following a 2 percent rise last Friday, the 3-month price of nickel closed on the LME at $17,205 per metric ton.

The Indian nickel cash price rose 0.6 percent.

Meanwhile, Chinese stainless steel prices were generally flat for the day.

The prices of Chinese 304 and 316 stainless coil and scrap held their value and remained essentially flat last Friday.

The price of Chinese ferro-chrome held steady, and the price of Chinese ferro-moly saw essentially no change for the fifth day in a row.

The Chinese primary nickel price increased 0.8 percent.

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