The day’s biggest mover was the Indian nickel cash price which dropped by 0.8 percent on Thursday, September 12 to close at INR 867.00 ($13.70) per kilogram. On the LME, the nickel spot price declined 0.7 percent to $13,670 per metric ton. The 3-month price of nickel saw a 0.7 percent decline on the LME to $13,730 per metric ton.
Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,357) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,699) per metric ton.
The price of Chinese primary nickel fell 0.4 percent to CNY 97,300 ($15,903) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,249) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,680) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,631) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,680) per metric ton.