Cash Price of Primary Indian Nickel Decline After Improvement

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Metal Prices, Premium

Following two days of increases, the Indian nickel cash price dropped by 0.7 percent to end at INR 840.80 ($14.14) per kilogram on Monday, July 1. On the LME, the nickel spot price increased 0.5 percent to $13,680 per metric ton. On the LME, the nickel 3-month price declined 0.1 percent to $13,710 per metric ton.

Chinese stainless steel closed mixed on Monday. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,351) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,609) per metric ton.

The price of Chinese primary nickel gained 0.1 percent to finish at CNY 97,300 ($15,842) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,233) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,670) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,621) 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 ($2,670) per metric ton.