On Wednesday, June 12, 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.
Chinese stainless steel prices were flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,353) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,630) per metric ton.
The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,237) 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, remaining around CNY 16,400 ($2,673) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,624) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,673) per metric ton. The price of Chinese primary nickel showed little movement yesterday, hovering around CNY 106,100 ($17,290) per metric ton.