Cash Price of Primary Indian Nickel Shifts Up 2.7%

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Metal Prices, Premium

With a 2.7 percent increase over the past day, the Indian nickel cash price was the biggest mover, closing at INR 847.10 ($14.07) per kilogram on Friday, June 28. On the LME, the nickel 3-month price increased 0.8 percent to $13,725 per metric ton. Just off of a 30-day low of $13,610 per metric ton, the spot price of nickel rose 0.4 percent last Friday on the LME.

Chinese stainless steel prices were mixed for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,347) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,529) per metric ton for the fifth day in a row.

The price of Chinese primary nickel closed at CNY 97,200 ($15,773) per metric ton. Following a couple days of improvement, prices fell by 0.1 percent. The price of Chinese 316 stainless coil held steady 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. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,613) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,661) per metric ton.