Nickel 3-Month Price Sees Small Price Drop

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Metal Prices, Premium

Dropping 1.0 percent on the LME, the nickel 3-month price was the biggest mover on Tuesday, June 18, closing at $14,175 per metric ton. The spot price of nickel saw a 1.0 percent decline on the LME to $14,080 per metric ton. The Indian nickel cash price gained 0.8 percent to finish at INR 819.10 ($14.15) per kilogram.

Chinese stainless steel closed mixed yesterday. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,355) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,675) per metric ton for the fifth day in a row.

Chinese primary nickel saw its price drop 1.0 percent to a 30-day low of CNY 101,100 ($16,507) per metric ton yesterday. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,245) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,678) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,629) per metric ton. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,678) per metric ton.