Prices Hit 30-Day Low for Chinese Primary Nickel

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Metal Prices, Premium

 With a decline of 3.0 percent to CNY 96,600 ($15,756) per metric ton on Friday, June 21, the price of Chinese primary nickel recorded the biggest decline of the day. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,675) per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,626) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,675) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,241) per metric ton.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,354) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,650) per metric ton.

The Indian nickel cash price gained 2.5 percent to finish at INR 841.00 ($14.12) per kilogram. The nickel 3-month price saw a 2.1 percent decline on the LME to $13,810 per metric ton. The spot price of nickel fell to a 30-day low at $13,740 per metric ton after shifting 1.9 percent.