Cash Price of Primary Indian Nickel Improves 1.6%

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Metal Prices, Premium

On Tuesday, August 20, the day’s biggest mover was the Indian nickel cash price, which saw a 1.6 percent increase to INR 928.10 ($14.62) per kilogram. The 3-month price of nickel weakened by 0.3 percent on the LME, settling at $14,750 per metric ton. The nickel spot price saw a 0.2 percent decline on the LME to $14,650 per metric ton.

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Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,680) per metric ton.

The price of Chinese primary nickel declined 0.4 percent to CNY 102,850 ($16,797) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,246) per metric ton. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,678) 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 ($2,629) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,678) per metric ton.