Cash Price of Primary Indian Nickel Sees Small Jump

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Metal Prices, Premium

On Wednesday, May 22, the Indian nickel cash price experienced the biggest change, rising 1.8 percent to INR 841.90 ($15.19) per kilogram. After a 1.3 percent increase, the 3-month price of nickel finished the day on the LME at $15,100 per metric ton. At $15,030, the nickel spot price finished the market day on the LME up 1.2 percent per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,352) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,625) per metric ton.

The price of Chinese primary nickel inched up 0.3 percent to CNY 106,300 ($17,319) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,236) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,672) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,623) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,672) per metric ton.