Prices Reach 30-Day Low for Indian Nickel, as Ferroalloys Hold
Dropping 6.6 percent, the Indian nickel cash price was the biggest mover on Tuesday, July 9. The spot price of nickel fell 1.5 percent to a 30-day low on the LME of $13,320 per metric ton yesterday. The nickel 3-month price saw a 1.3 percent decline on the LME to $13,425 per metric ton.
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The price of Chinese primary nickel rose 0.1 percent yesterday, just off the 30-day low it hit on Friday, July 5.
Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome continues hovering in place for the fifth day in a row. The price of Chinese ferro-moly saw little movement.
The price of Chinese 316 stainless coil was unchanged. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat. The price of Chinese 316 stainless steel scrap remained essentially flat. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row.
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