3-Month Price of Nickel Sees Small Decrease

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Metal Prices, Premium

On Tuesday, September 24, the day’s biggest mover was the nickel 3-month price, which saw a 2.0 percent decline on the LME to $13,915 per metric ton. On the LME, the nickel spot price fell 1.8 percent to $13,825 per metric ton. The cash price of primary Indian nickel saw a 0.9 percent decline to INR 857.00 ($13.67) per kilogram.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,691) per metric ton.

The price of Chinese primary nickel declined 0.9 percent to CNY 97,800 ($15,979) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,248) 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 remained essentially flat at CNY 16,100 ($2,631) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,680) per metric ton.

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