The spot price of nickel saw a 1.0 percent drop on the LME on Friday, May 31, landing at $14,625 per metric ton and making it the biggest mover of the day. On the LME, the nickel 3-month price fell 0.3 percent to $14,795 per metric ton.
Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome was unchanged. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row.
After hitting a 30-day low on Wednesday, May 29, the price of Chinese primary nickel rose 0.3 percent last Friday.
The prices of Chinese 304 and 316 stainless coil and scrap saw little movement on the day.