Cash Price of Primary Indian Nickel Lower

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Metal Prices, Premium

On Tuesday, September 3, the cash price of primary Indian nickel fell by 2.4 percent, landing at INR 911.80 ($13.76) per kilogram and making it the day’s biggest mover. On the LME, the nickel spot price gained 0.1 percent to finish at $13,770 per metric ton. On the LME, the nickel 3-month price showed little movement on Tuesday, hovering around $13,820 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,356) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,695) per metric ton.

The price of Chinese primary nickel weakened by 0.7 percent, settling at CNY 97,500 ($15,933) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,249) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,680) per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,631) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,680) per metric ton.