3-Month Price of Nickel Rises 2.5%

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Metal Prices, Premium

The nickel 3-month price saw a 2.5 percent increase on Thursday, July 18, reaching $13,925 per metric ton on the LME and making it the biggest mover for the day. On the LME, the spot price of nickel inched up 2.0 percent to $13,805 per metric ton. After a 1.1 percent increase, the Indian nickel cash price finished the day at INR 829.00 ($13.97) per kilogram.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,353) per metric ton for the fifth day in a row. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,638) per metric ton.

The price of Chinese primary nickel increased 0.5 percent to CNY 97,600 ($15,911) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,238) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,673) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,625) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,673) per metric ton.