Small Drift for Cash Price of Primary Indian Nickel

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Metal Prices, Premium

Dropping 1.1 percent, the Indian nickel cash price was the biggest mover on Monday, July 15, closing at INR 803.30 ($13.41) per kilogram. Following two days of rising prices, the nickel 3-month price dropped 0.7 percent on the LME to $13,625 per metric ton. The nickel spot price closed at $13,560 per metric ton. Following a couple days of improvement, prices fell by 0.7 percent on the LME.

Chinese stainless steel closed mixed on Monday. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,352) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,613) per metric ton.

The price of Chinese primary nickel inched up 0.1 percent to CNY 97,200 ($15,829) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,234) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,671) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,622) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,671) per metric ton.