LME Cash Price of Primary Indian Nickel Still on the Decline

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Metal Prices, Premium

The Indian nickel cash price experienced the biggest price decline of the day, dropping 2.2 percent to close at INR 819.40 ($14.17) per kilogram on Thursday, June 13. The spot price of nickel saw a 0.8 percent decline on the LME to $14,380 per metric ton. On the LME, the nickel 3-month price declined 0.8 percent to $14,440 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,353) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,632) per metric ton.

After three straight days of no change, the price of Chinese primary nickel decreased by 0.1 percent to CNY 105,950 ($17,268) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,238) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,673) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,624) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,673) per metric ton.