Spot Price of Nickel Rises 0.9%

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Metal Prices, Premium

On Monday, June 10, the day’s biggest mover was the spot price of nickel, which saw a 0.9 percent increase on the LME to $15,045 per metric ton. The cash price of primary Indian nickel rose 0.5 percent to INR 858.20 ($15.04) per kilogram. At $15,105, the 3-month price of nickel finished the market day on the LME up 0.4 percent per metric ton.

Chinese stainless steel prices closed flat for the day. 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. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,622) per metric ton for the fifth day in a row.

The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,236) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,672) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,623) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,672) per metric ton. The price of Chinese primary nickel saw little movement on Monday, closing out around CNY 106,100 ($17,285) per metric ton.