Cash Price of Primary Indian Nickel Sees Large Increase

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Metal Prices, Premium

 At INR 860.00 ($14.28) per kilogram, the Indian nickel cash price moved up 3.7 percent on Thursday, July 4, making it the day’s biggest mover. The nickel 3-month price declined 0.8 percent on the LME to $13,860 per metric ton, after two days of improvement. After improving for two days, the nickel spot price declined 0.8 percent on the LME to $13,800 per metric ton.

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 ($1,355) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,664) per metric ton for the fifth day in a row.

The price of Chinese primary nickel changed direction with a 1.2 percent drop. After two days of improving prices, the metal finished at CNY 97,450 ($15,904) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,243) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,677) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,628) 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 ($2,677) per metric ton.