Nickel 3-Month Price Improves 0.8%

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Metal Prices, Premium

Rising 0.8 percent to close at $14,145 per metric ton, the 3-month price of nickel experienced the biggest change on the LME for Tuesday, July 23. On the LME, the spot price of nickel inched up 0.5 percent to $14,050 per metric ton. The Indian nickel cash price saw little change in its price yesterday at INR 834.00 ($13.96) per kilogram.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,351) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,603) per metric ton.

At CNY 99,700 ($16,229), the price of Chinese primary nickel finished the market day up 0.4 percent per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,232) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,670) 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 ($2,621) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,670) per metric ton.