Cash Price of Primary Indian Nickel Declines 1.6%

by on
Style:
Category:
Metal Prices, Premium

The Indian nickel cash price fell 1.6 percent on Friday, July 5 to INR 846.30 ($14.06) per kilogram, making it the day’s biggest mover. The spot price of nickel weakened by 0.8 percent on the LME, settling at $13,685 per metric ton. On the LME, the nickel 3-month price fell 0.6 percent to $13,775 per metric ton.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,355) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,665) per metric ton.

The price of Chinese primary nickel showed little movement last Friday at CNY 97,400 ($15,897) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,243) per metric ton. The price of Chinese 304 stainless coil held steady 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 remained essentially flat at CNY 16,400 ($2,677) per metric ton.