Cash Price of Primary Indian Nickel Hits 30-Day Price Low

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Metal Prices, Premium

Dropping 3.2 percent, the Indian nickel cash price was the biggest mover on Wednesday, April 17, closing at INR 827.30 ($15.28) per kilogram. The spot price of nickel rose 1.8 percent on the LME to $15,725 per metric ton after a two-day drop. Following a 1.6 percent rise on Wednesday, the nickel 3-month price closed on the LME at $15,795 per metric ton.

Chinese stainless steel closed mixed on Wednesday. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,342) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,445) per metric ton.

Following a two-day drop, the price of Chinese primary nickel increased by 1.1 percent to CNY 109,200 ($17,656) per metric ton. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,700 ($4,317) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 17,400 ($2,813) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,603) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 17,400 ($2,813) per metric ton.