Spot Price of Nickel Rises 1.0%

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Metal Prices, Premium

With a 1.0 percent increase over the past day, the spot price of nickel was the biggest mover on the LME, closing at $15,280 per metric ton on Monday, April 29. On the LME, the 3-month price of nickel rose 0.8 percent to $15,350 per metric ton. The cash price of primary Indian nickel saw little price change yesterday at INR 829.50 ($15.25) per kilogram.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,347) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,525) per metric ton.

For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,218) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,500 ($2,677) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,612) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,500 ($2,677) per metric ton for the fifth day in a row. After a couple of days of improving prices, the price of Chinese primary nickel held steady at CNY 108,800 ($17,652).