Nickel Prices Down on Day, Stainless Unchanged

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Metal Prices, Premium

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,684) per metric ton for the fifth day in a row.

The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,247) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,679) 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 ($2,630) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,679) per metric ton. After a couple of days of decreasing prices, the price of Chinese primary nickel held steady at CNY 101,950 ($16,652).

The cash price of primary Indian nickel saw a 1.4 percent decline to INR 927.80 ($14.38) per kilogram. On the LME, the 3-month price of nickel declined 0.1 percent to $14,530 per metric ton. On the LME, the nickel spot price fell 0.1 percent to $14,430 per metric ton.