Cash Price of Primary Indian Nickel Shifts Up 1.9%

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Metal Prices, Premium

With a 1.9 percent increase over the past day, the Indian nickel cash price was the biggest mover, closing at INR 859.90 ($13.88) per kilogram on Friday, October 4. The 3-month price of nickel flattened at $13,695 following two-days of declines on the LME. After dropping for two days on the LME, the nickel spot price flattened at $13,625.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,355) per metric ton for the fifth day in a row. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,680) per metric ton.

The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,246) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,678) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,629) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,678) per metric ton. The price of Chinese primary nickel held steady last Friday, remaining around CNY 97,400 ($15,906) per metric ton.

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