Cash Price of Primary Indian Nickel Lower

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Metal Prices, Premium

The Indian nickel cash price saw a 0.6 percent drop on Monday, October 7, landing at INR 854.80 ($13.93) per kilogram and making it the biggest mover of the day. On the LME, the nickel spot price fell 0.6 percent to $13,550 per metric ton. The 3-month price of nickel weakened by 0.4 percent on the LME, settling at $13,635 per metric ton.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,357) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,711) per metric ton.

For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,252) per metric ton. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,682) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,633) per metric ton. The price of Chinese 304 stainless steel scrap was unchanged at CNY 16,400 ($2,682) per metric ton. For the fifth day in a row, the price of Chinese primary nickel remained essentially flat at CNY 97,400 ($15,927) per metric ton.

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