On Tuesday, the day’s biggest mover was the nickel 3-month price, which saw a 2.6 percent decline on the LME to $14,550 per metric ton. The spot price of nickel weakened by 2.4 percent on the LME, settling at $14,490 per metric ton. The Indian nickel cash price fell 1.9 percent to INR 838.10 ($14.37) per kilogram.
The price of Chinese 316 stainless coil continues hovering around $4200+ per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row. The price of Chinese 316 stainless steel scrap saw little movement. The price of Chinese 304 stainless steel scrap remained essentially flat. The price of Chinese primary nickel showed little movement yesterday, hovering over $17,000 per metric ton range.