Cash Price of Primary Indian Nickel Improves 1.2%

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Metal Prices, Premium

On Tuesday, May 21, the day’s biggest mover was the cash price of primary Indian nickel, which saw a 1.2 percent increase to INR 827.40 ($15.01) per kilogram. On the LME, the nickel 3-month price remained essentially flat at $14,910 per metric ton. The nickel spot price showed little movement yesterday on the LME at $14,845 per metric ton.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,352) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,612) per metric ton.

The price of Chinese primary nickel gained 0.8 percent to finish at CNY 106,000 ($17,261) per metric ton. The price of Chinese 316 stainless coil saw little movement at CNY 26,000 ($4,234) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,671) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,622) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,671) per metric ton for the fifth day in a row.