30-Day Low is Kaput for Chinese Primary Nickel Price

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The price of Chinese primary nickel saw a 3.4 percent increase on Thursday, July 11, making it the biggest mover for the day.

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For the fifth consecutive day, the prices of Chinese 304 and 316 stainless steel scrap held flat.

The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row. The price of Chinese ferro-moly was unchanged.

After hitting a 30-day low on Tuesday, July 9, the nickel 3-month price rose 2.3 percent yesterday on the LME. The nickel spot price rose 2.3 percent yesterday on the LME, just off the 30-day low of $13,460 per metric ton it hit on Tuesday, July 9. The cash price of primary Indian nickel rose 0.6 percent.

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