Cash Price of Primary Indian Nickel Sees Small Decrease

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Metal Prices, Premium

The cash price of primary Indian nickel experienced the biggest price decline of the day, dropping 0.7 percent to close at INR 824.00 ($15.19) per kilogram on Tuesday, April 30. On the LME, the nickel 3-month price rose 0.1 percent to $15,370 per metric ton. The spot price of nickel showed little movement on Tuesday on the LME at $15,280 per metric ton.

Chinese stainless steel prices closed flat for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,346) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,510) per metric ton.

The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,216) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil held steady at CNY 16,500 ($2,675) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,610) per metric ton. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,500 ($2,675) per metric ton. The price of Chinese primary nickel remained essentially flat at CNY 108,800 ($17,641) per metric ton.