Chinese Primary Nickel Improves Slightly

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Metal Prices, Premium

Rising 1.4 percent to close at CNY 108,800 ($17,623) per metric ton, the price of Chinese primary nickel experienced the biggest change for Friday, April 26. Chinese 304 stainless steel scrap stayed flat at around CNY 16,500 ($2,673) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,608) per metric ton. The price of Chinese 304 stainless coil showed little movement last Friday at CNY 16,500 ($2,673) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,211) per metric ton.

The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,344) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,486) per metric ton.

The cash price of primary Indian nickel rose 1.2 percent to INR 829.50 ($15.30) per kilogram. The nickel spot price weakened by 0.5 percent on the LME, settling at $15,130 per metric ton. The 3-month price of nickel saw a 0.1 percent decline on the LME to $15,225 per metric ton.