The Indian nickel cash price rose 2.9 percent on Friday, May 3, making it the day’s biggest mover after two days of falling prices.
On the LME, the nickel spot price fell 1.4 percent to $14,765 per metric ton. After falling 1.4 percent, prices settled at $14,845 per metric ton, driving an accelerated drop-off since Monday, April 29. Today marks the fifth day in a row of declining prices for the 3-month price of nickelon the LME.
The price of Chinese primary nickel fell to a 30-day low after shifting 0.5 percent. For the fifth consecutive day, the prices of Chinese 304 and 316 stainless coil and scrap held flat.