Nickel Spot Price Improves Slightly

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Metal Prices, Premium

Rising 2.6 percent to close at $14,140 per metric ton, the spot price of nickel experienced the biggest change on the LME for Friday, September 20. On the LME, the nickel 3-month price gained 2.4 percent to finish at $14,200 per metric ton. The cash price of primary Indian nickel rose 0.4 percent to INR 876.70 ($14.10) per kilogram.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,689) 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 ($4,248) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,679) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,630) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,679) per metric ton for the fifth day in a row. The price of Chinese primary nickel saw little movement last Friday at CNY 97,750 ($15,970) per metric ton.

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