Chinese Primary Nickel Improves 0.8%

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Metal Prices, Premium

On Monday, September 16, the day’s biggest mover was the price of Chinese primary nickel, which saw a 0.8 percent increase to CNY 98,100 ($16,031) per metric ton. The price of Chinese 304 stainless steel scrap held steady at 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 coil saw little movement at CNY 16,400 ($2,680) per metric ton. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,000 ($4,249) per metric ton.

The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,356) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,695) per metric ton.

The cash price of primary Indian nickel fell 0.5 percent to INR 863.40 ($13.63) per kilogram. The 3-month price of nickel is back up, rising by 0.1 percent on the LME yesterday to close at $13,670 per metric ton. On the LME, the spot price of nickel declined 0.1 percent to $13,600 per metric ton.

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