Spot Price of Nickel Rises 1.4%

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Metal Prices, Premium

Rising 1.4 percent to close at $13,650 per metric ton, the spot price of nickel experienced the biggest change on the LME for Friday, July 12. On the LME, the 3-month price of nickel increased 1.3 percent to $13,725 per metric ton. The Indian nickel cash price declined 0.2 percent to INR 812.30 ($13.58) per kilogram, after two days of improvement.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,352) per metric ton for the fifth day in a row. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,626) per metric ton.

The price of Chinese primary nickel fell 0.9 percent to CNY 97,100 ($15,821) per metric ton. The price of Chinese 316 stainless coil saw little movement at CNY 26,000 ($4,236) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,672) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,623) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,672) per metric ton for the fifth day in a row.