Nickel 3-Month Price Sees Small Decrease

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Metal Prices, Premium

On Friday, September 13, the 3-month price of nickel fell by 0.6 percent on the LME, landing at $13,650 per metric ton and making it the day’s biggest mover. On the LME, the nickel spot price declined 0.4 percent to $13,615 per metric ton. The Indian nickel cash price flattened at INR 867.70 ($13.64) per kilogram after two days of downward movement.

Chinese stainless steel prices closed flat 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 ($1,357) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,705) per metric ton for the fifth day in a row.

For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,251) per metric ton. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,681) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,632) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,681) per metric ton. After dropping for two days, the price of Chinese primary nickel flattened at CNY 97,300 ($15,907).

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