Cash Price of Primary Indian Nickel Declines 1.4%

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Metal Prices, Premium

On Thursday, June 6, the day’s biggest mover was the cash price of primary Indian nickel, which saw a 1.4 percent decline to INR 848.30 ($14.95) per kilogram. On the LME, the nickel 3-month price gained 0.9 percent to finish at $15,335 per metric ton. On the LME, the spot price of nickel inched up 0.8 percent to $15,250 per metric ton.

Chinese stainless steel prices closed flat for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,354) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,659) per metric ton.

The price of Chinese primary nickel showed little movement yesterday at CNY 106,700 ($17,410) per metric ton. The price of Chinese 316 stainless coil saw little movement at CNY 26,000 ($4,242) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,676) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,627) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap was unchanged at CNY 16,400 ($2,676) per metric ton.