3-Month Price of Nickel Sees Small Jump

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Metal Prices, Premium

The 3-month price of nickel saw the biggest upwards shift for the day, rising 1.7 percent on the LME to close at $13,900 per metric ton on Tuesday, September 17. Following a two-day drop, the nickel spot price increased by 1.6 percent on the LME to $13,815 per metric ton. At INR 872.90 ($13.79), the Indian nickel cash price finished the market day up 1.1 percent 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. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,690) per metric ton.

The price of Chinese primary nickel saw a 0.2 percent decline to CNY 97,900 ($15,995) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,248) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,679) per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,630) 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 ($2,679) per metric ton.

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