Cash Price of Primary Indian Nickel Shifts Up 1.0%

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Metal Prices, Premium

Rising 1.0 percent to close at INR 812.10 ($14.99) per kilogram, the cash price of primary Indian nickel experienced the biggest change for Tuesday, May 7. On the LME, the nickel spot price saw little change in its price on Tuesday at $14,905 per metric ton. On the LME, the nickel 3-month price saw little movement on Tuesday at $14,965 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,346) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,510) per metric ton.

The price of Chinese 304 stainless coil reached a 30-day low after decreasing 0.6 percent to CNY 16,400 ($2,659) per metric ton. The price of Chinese 304 stainless steel scrap moved yesterday. After a few changeless days, prices dropped 0.6 percent to CNY 16,400 ($2,659) per metric ton. The price of Chinese primary nickel saw little movement yesterday, closing out around CNY 106,700 ($17,300) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,216) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,610) per metric ton.