On Tuesday, May 14, the nickel spot price remained flat on the LME at $15,230 per metric ton. The 3-month price of nickel steadied at $15,325 per metric ton following two-days of dropping prices on the LME. The cash price of primary Indian nickel flattened at INR 825.00 ($15.04) following two-days of declines.
Chinese stainless steel prices were flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,350) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,592) per metric ton.
The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,230) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,668) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,620) 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 16,400 ($2,668) per metric ton. After a couple of days of improving prices, the price of Chinese primary nickel held steady at CNY 108,200 ($17,604).