Nickel Spot Price Hits 30-Day Low

by on
Style:
Category:
Metal Prices, Premium

On Thursday, April 18, the nickel spot price fell by 8.9 percent on the LME, landing at $14,325 per metric ton and making it the day’s biggest mover. On the LME, the 3-month price of nickel declined 2.5 percent to $15,400 per metric ton. Just off of a thirty-day low of INR 831.40 ($15.34) per kilogram, the cash price of primary Indian nickel rose 0.5 percent on Thursday.

Chinese stainless steel closed mixed on Thursday. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,344) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,483) per metric ton for the fifth day in a row.

The price of Chinese primary nickel fell 2.5 percent to a thirty-day low of CNY 106,500 ($17,248) per metric ton yesterday. For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 26,700 ($4,324) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 17,400 ($2,818) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,607) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 17,400 ($2,818) per metric ton.