Cash Price of Primary Indian Nickel Rises 2.0%

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Metal Prices, Premium

With a 2.0 percent increase over the past day, the Indian nickel cash price was the biggest mover, closing at INR 819.60 ($13.82) per kilogram on Wednesday, July 17. The nickel spot price rose 1.2 percent on the LME to $13,530 per metric ton after a two-day drop. Following a 1.0 percent rise yesterday, the 3-month price of nickel closed on the LME at $13,590 per metric ton.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,342) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,450) per metric ton.

The price of Chinese primary nickel rose 1.1 percent to CNY 97,150 ($15,711) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,205) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,652) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,604) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,652) per metric ton.