Cash Price of Primary Indian Nickel Climbs On the LME

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Metal Prices, Premium

The cash price of primary Indian nickel saw the biggest upwards shift for the day, rising 4.5 percent to close at INR 895.00 ($14.29) per kilogram on Wednesday, October 2. The nickel 3-month price saw a 0.9 percent decline on the LME to $13,800 per metric ton. The spot price of nickel weakened by 0.8 percent on the LME, settling at $13,735 per metric ton.

Chinese stainless steel prices closed flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,693) per metric ton for the fifth day in a row.

The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,248) per metric ton. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,680) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,631) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,680) per metric ton. The price of Chinese primary nickel saw little movement on Wednesday at CNY 97,400 ($15,915) per metric ton.

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