The cash price of primary Indian nickel saw the biggest upwards shift for the day, rising 1.4 percent to close at INR 869.80 ($13.83) per kilogram on Monday, September 30. After rising 0.8 percent, prices settled at $13,880 per metric ton, driving an accelerated rise since Tuesday, September 24. Today marks the fifth day in a row of improvement for the spot price of nickelon the LME. The nickel 3-month price rose 0.8 percent on the LME to $13,965 per metric ton. Today marked the fifth in a row of increasing prices and the improvement has accelerated since Tuesday, September 24.
Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,354) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,646) per metric ton.
Following a couple days of improvement, the price of Chinese primary nickel weakened by 0.2 percent. Prices closed at CNY 97,400 ($15,884) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,240) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,675) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,626) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,675) per metric ton for the fifth day in a row.