Cash Price of Primary Indian Nickel Down

by on
Style:
Category:
Metal Prices, Premium

The Indian nickel cash price experienced the biggest price decline of the day, dropping 3.0 percent to close at INR 884.40 ($13.68) per kilogram on Tuesday, September 10. Following two days of rising prices, the nickel spot price dropped 0.6 percent on the LME to $13,815 per metric ton. Following a couple days of improvement, the nickel 3-month price weakened by 0.6 percent on the LME. Prices closed at $13,890 per metric ton.

Chinese stainless steel closed mixed yesterday. For the fifth day in a row, 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 ($23,692) per metric ton.

The price of Chinese primary nickel closed at CNY 98,300 ($16,061) per metric ton. Following a couple days of improvement, the metal’s price weakened by 0.5 percent. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,248) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,680) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,631) per metric ton. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,680) per metric ton.