With a 0.8 percent increase over the past day, the cash price of primary Indian nickel was the biggest mover, closing at INR 825.50 ($15.18) per kilogram on Wednesday, April 24. On the LME, the nickel spot price fell 0.6 percent to $15,080 per metric ton. The nickel 3-month price saw a 0.5 percent decline on the LME to $15,150 per metric ton.
Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,343) per metric ton for the fifth day in a row. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,461) per metric ton.
After hitting a 30-day low of CNY 106,500 ($17,232) per metric ton on Monday, April 22, the price of Chinese primary nickel rose 0.5 percent on Wednesday. Chinese 316 stainless coil held its value on Wednesday at CNY 26,000 ($4,207) per metric ton. The price of Chinese 304 stainless coil showed little movement on Wednesday at CNY 16,500 ($2,670) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,605) per metric ton. The price of Chinese 304 stainless steel scrap remained steady at CNY 16,500 ($2,670) per metric ton.