Chinese Primary Nickel Improves Slightly

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Metal Prices, Premium

On Monday, July 22, the day’s biggest mover was the price of Chinese primary nickel, which saw a 1.5 percent increase to CNY 99,300 ($16,182) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,673) 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 ($2,624) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,673) per metric ton for the fifth day in a row. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,237) per metric ton.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,353) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,630) per metric ton.

On the LME, the spot price of nickel rose 0.7 percent to $13,975 per metric ton. On the LME, the 3-month price of nickel rose 0.4 percent to $14,035 per metric ton. After improving for two days, the cash price of primary Indian nickel declined 0.1 percent to INR 834.80 ($14.07) per kilogram.