Nickel Spot Price Sees Small Price Drop

by on
Style:
Category:
Metal Prices, Premium

Dropping 1.4 percent on the LME, the nickel spot price was the biggest mover on Tuesday, July 16, closing at $13,375 per metric ton. The nickel 3-month price weakened by 1.3 percent on the LME, settling at $13,450 per metric ton. Following two days of downward movement, the cash price of primary Indian nickel held steady at INR 803.70 ($13.36) per kilogram.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,352) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,628) per metric ton.

The price of Chinese primary nickel saw a 1.2 percent decline to CNY 96,050 ($15,651) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,237) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,672) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,624) per metric ton. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,672) per metric ton.