Cash Price of Primary Indian Nickel Sees Small Decrease

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.

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