Cash Price of Primary Indian Nickel Rises 1.4%

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Metal Prices, Premium

The Indian nickel cash price saw a 1.4 percent increase on Tuesday, August 27, reaching INR 940.50 ($14.63) per kilogram and making it the biggest mover for the day. The spot price of nickel flattened at $14,340 following two-days of declines on the LME. Following two days of downward movement, the nickel 3-month price held steady at $14,410 per metric ton on the LME.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,694) per metric ton.

The price of Chinese primary nickel declined 0.1 percent to CNY 102,350 ($16,725) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,249) per metric ton. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,680) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,631) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,680) per metric ton for the fifth day in a row.