The cash price of primary Indian nickel saw a 1.9 percent drop on Wednesday, June 26, landing at INR 811.50 ($13.60) per kilogram and 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.
Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,350) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,591) per metric ton.
Just off of a 30-day low of CNY 97,200 ($15,814) per metric ton, 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 at CNY 26,000 ($4,230) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,668) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,619) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,668) per metric ton.