Following a two-day decline, the Indian nickel cash price climbed up 3.2 percent on Wednesday, July 31.
On the LME, the 3-month price of nickel declined 1.6 percent to $13,490 per metric ton. The spot price of nickel weakened by 1.5 percent on the LME, settling at $13,430 per metric ton.
Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome held steady. The price of Chinese ferro-moly continues hovering in place for the fifth day in a row.
The price of Chinese primary nickel saw a 0.2 percent decline. The prices of Chinese 304 and 316 stainless coil and scrap still remain essentially flat.