30-Day Low Finishes for Nickel Spot Price

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Metal Prices, Premium

On Friday, April 19, the day’s biggest mover was the spot price of nickel, which saw a 7.4 percent increase on the LME to $15,385 per metric ton. The cash price of primary Indian nickel reached a thirty-day low after decreasing 1.0 percent to INR 822.70 ($15.23) per kilogram. On the LME, the 3-month price of nickel held steady around $15,415 per metric ton.

Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,339) per metric ton for the fifth day in a row. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,392) per metric ton.

Just off of a thirty-day low of CNY 107,700 ($17,374) per metric ton, the price of Chinese primary nickel rose 1.1 percent last Friday. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,700 ($4,307) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 17,400 ($2,807) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,597) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 17,400 ($2,807) per metric ton.