Spot Price of Nickel Sees Small Decrease

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Metal Prices, Premium

The day’s biggest mover was the nickel spot price which dropped by 1.3 percent on Tuesday, June 11 to close at $14,850 per metric ton on the LME. The 3-month price of nickel saw a 1.1 percent decline on the LME to $14,945 per metric ton. The cash price of primary Indian nickel declined 0.5 percent to INR 854.00 ($14.68) per kilogram, after two days of improvement.

Chinese stainless steel prices were 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 ($1,353) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,638) per metric ton.

The price of Chinese 316 stainless coil saw little movement at CNY 26,000 ($4,239) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,674) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,625) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,674) per metric ton. The price of Chinese primary nickel remained essentially flat at CNY 106,100 ($17,297) per metric ton.