3-Month Price of Nickel Sees Small Decrease

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Metal Prices, Premium

Dropping 2.3 percent on the LME, the nickel 3-month price was the biggest mover on Thursday, June 27, closing at $13,610 per metric ton. Primary cash nickel saw its price drop on the LME 2.2 percent to a 30-day low of $13,555 per metric ton yesterday. The cash price of primary Indian nickel rose 1.7 percent to INR 824.90 ($13.59) per kilogram.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,347) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,530) per metric ton.

After a 0.1 percent increase, the price of Chinese primary nickel finished the day at CNY 97,300 ($15,789) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,219) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,661) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,613) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,661) per metric ton for the fifth day in a row.