Cash Price of Primary Indian Nickel Improves Slightly

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Metal Prices, Premium

The Indian nickel cash price saw a 1.6 percent increase on Tuesday, June 25, reaching INR 827.60 ($13.84) per kilogram and making it the biggest mover for the day. The spot price of nickel reached a 30-day low on the LME after decreasing 1.1 percent to $13,625 per metric ton. On the LME, the nickel 3-month price fell 0.8 percent to $13,725 per metric ton.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,351) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,599) per metric ton.

The price of Chinese primary nickel fell 1.3 percent to a 30-day low of CNY 96,600 ($15,722) per metric ton on Tuesday. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,231) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,669) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,620) 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 ($2,669) per metric ton.