3-Month Price of Nickel Sees Small Price Drop

by on
Style:
Category:
Metal Prices, Premium

The nickel 3-month price experienced the biggest price decline of the day, dropping 0.8 percent on the LME to close at $13,620 per metric ton on Thursday, September 5. On the LME, the nickel spot price declined 0.7 percent to $13,535 per metric ton. The Indian nickel cash price weakened by 0.6 percent, settling at INR 901.80 ($13.52) per kilogram.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,692) per metric ton.

The price of Chinese primary nickel fell 0.3 percent to CNY 97,050 ($15,857) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,248) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,680) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,631) 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 ($2,680) per metric ton.