Cash Price of Primary Indian Nickel Lower

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Metal Prices, Premium

The cash price of primary Indian nickel experienced the biggest price decline of the day, dropping 0.3 percent to close at INR 857.30 ($13.73) per kilogram on Thursday, September 26. Following a 0.2 percent rise yesterday, the nickel spot price closed on the LME at $13,700 per metric ton. Following two days of downward movement, the nickel 3-month price held steady at $13,765 per metric ton on the LME.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,686) per metric ton.

After falling for two days, the price of Chinese primary nickel rose 0.1 percent to CNY 97,300 ($15,894) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,247) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,679) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,630) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,679) per metric ton.

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