Prices Reach 30-Day Low for Chinese Primary Nickel

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Metal Prices, Premium

With a decline of 3.6 percent to CNY 102,150 ($16,662) per metric ton on Monday, June 17, the price of Chinese primary nickel recorded the biggest decline of the day. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,675) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,626) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,675) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,241) per metric ton.

The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,354) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,652) per metric ton.

The 3-month price of nickel rose 1.5 percent on the LME to $14,325 per metric ton after a two-day drop. After hitting a 30-day low of $14,225 per metric ton on Thursday, June 13, the nickel spot price rose 1.4 percent yesterday on the LME. The Indian nickel cash price saw a 1.0 percent decline to INR 813.00 ($14.13) per kilogram.