The Indian nickel cash price rose 0.8 percent on Friday, May 17, making it the day’s biggest mover. After two days of falling prices, it closed at INR 815.20 ($14.88) per kilogram. The spot price of nickel weakened by 0.4 percent on the LME, settling at $14,765 per metric ton. The nickel 3-month price flattened at $14,895 following two-days of declines on the LME.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,349) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,570) per metric ton.

The price of Chinese primary nickel rose 0.2 percent to CNY 105,300 ($17,117) per metric ton after a two-day drop. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,226) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,666) 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 ($2,617) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,666) per metric ton.