Spot Price of Nickel Up After Two-Day Decline

Following a two-day decline on the LME, the spot price of nickel climbed up 0.8 percent to end at $15,200 per metric ton on Thursday, April 25. The cash price of primary Indian nickel fell 0.7 percent to INR 819.80 ($15.10) per kilogram. Following a 0.6 percent rise on Thursday, the nickel 3-month price closed on the LME at $15,245 per metric ton.

Chinese stainless steel closed mixed on Thursday. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,343) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,456) per metric ton for the fifth day in a row.

The price of Chinese primary nickel rose 0.8 percent to CNY 107,300 ($17,357) per metric ton. At CNY 26,000 ($4,206) per metric ton, the price of Chinese 316 stainless coil was essentially unchanged. Chinese 304 stainless coil saw little change in its price on Thursday at CNY 16,500 ($2,669) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,604) per metric ton. Chinese 304 stainless steel scrap stayed flat at around CNY 16,500 ($2,669) per metric ton.

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