Following two days of increases, the Indian nickel cash price dropped by 1.3 percent on Friday, May 10.
The nickel spot price changed direction with a 0.7 percent drop. After two days of improving prices, the metal finished at $15,330 per metric ton on the LME. The 3-month price of nickel closed at $15,415 per metric ton. Following a couple days of improvement, prices fell by 0.5 percent on the LME.
Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome saw little movement. For the fifth consecutive day, the price of Chinese ferro-moly held flat.
The price of Chinese primary nickel increased 0.3 percent. The price of Chinese 316 stainless coil remained essentially flat. Chinese 304 stainless coil saw little change in its price last Friday. The price of Chinese 316 stainless steel scrap was unchanged. Chinese 304 stainless steel scrap stayed flat.