3-Month Price of Nickel Shifts Up 0.7%

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Metal Prices, Premium

At $13,860 per metric ton, the 3-month price of nickel moved up 0.7 percent on Friday, September 27, making it the day’s biggest mover on the LME. On the LME, the spot price of nickel inched up 0.5 percent to $13,775 per metric ton. The cash price of primary Indian nickel saw little change in its price last Friday at INR 858.10 ($13.86) per kilogram.

Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,356) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,685) per metric ton.

After a 0.3 percent increase, the price of Chinese primary nickel finished the day at CNY 97,600 ($15,942) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,247) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,679) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,630) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,679) per metric ton.

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