India Nickel Price Down

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Metal Prices, Premium

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,353) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,635) per metric ton.

The price of Chinese primary nickel gained 1.0 percent to finish at CNY 98,250 ($16,015) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,238) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,673) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,624) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,673) per metric ton.

The cash price of primary Indian nickel fell 1.7 percent to INR 826.60 ($13.92) per kilogram. On the LME, the 3-month price of nickel inched up 1.3 percent to $13,885 per metric ton. On the LME, the nickel spot price rose 1.1 percent to $13,825 per metric ton.