Cash Price of Primary Indian Nickel Experiences Large Decrease

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Metal Prices, Premium

The day’s biggest mover was the Indian nickel cash price which dropped by 5.7 percent on Thursday, October 3 to close at INR 844.20 ($13.60) per kilogram. On the LME, the nickel spot price fell 0.8 percent to $13,625 per metric ton. On the LME, the 3-month price of nickel declined 0.7 percent to $13,700 per metric ton.

Chinese stainless steel prices were flat for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,692) per metric ton.

The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,000 ($4,248) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,680) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around 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. The price of Chinese primary nickel showed little movement yesterday, hovering around CNY 97,400 ($15,914) per metric ton.

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