Cash Price of Primary Indian Nickel Sees Small Jump

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Metal Prices, Premium

Rising 0.6 percent to close at INR 831.10 ($14.81) per kilogram, the Indian nickel cash price experienced the biggest change for Wednesday, May 29. After two flat days, the spot price of nickel inched up 0.5 percent on Wednesday on the LME to $14,825. On the LME, the 3-month price of nickel inched up 0.1 percent to $14,855 per metric ton.

Chinese stainless steel closed mixed on Wednesday. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,355) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,679) per metric ton.

Following a 0.2 percent rise yesterday, the price of Chinese primary nickel closed at CNY 104,900 ($17,131) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,246) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,678) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,629) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,678) per metric ton.