With a decline of 7.1 percent on the LME to $13,825 per metric ton on Monday, September 2, the 3-month price of nickel recorded the biggest decline of the day. The nickel spot price was off by 6.9 percent on the LME last Friday, falling from $13,750 to $13,750 per metric ton. The Indian nickel cash price rose 3.2 percent to INR 934.10 ($14.12) per kilogram after a two-day drop.
Chinese stainless steel closed mixed last Friday. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,681) per metric ton.
At CNY 98,200 ($16,038) per metric ton, the price of Chinese primary nickel was down 5.2 percent from the previous market day. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,000 ($4,246) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,678) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,629) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,678) per metric ton.