The cash price of primary Indian nickel saw a 1.9 percent drop on Wednesday, June 26, making it the biggest mover of the day.
The nickel spot price rose 1.7 percent yesterday on the LME, just off the 30-day low of $13,860 per metric ton it hit on Monday, June 24. After a 1.5 percent increase, the 3-month price of nickel finished the day on the LME at $13,925 per metric ton.
Just off of a 30-day low, the price of Chinese primary nickel rose 0.6 percent on Wednesday. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat. The price of Chinese 316 stainless steel scrap remained essentially flat as well. The price of Chinese 304 stainless steel scrap held steady.