Nickel Spot Price Sees A Jump

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The nickel spot price saw a 2.1 percent increase on Tuesday, October 8, reaching $13,835 per metric ton on the LME and making it the biggest mover for the day. After a 2.0 percent increase, the Indian nickel cash price finished the day. On the LME, the 3-month price of nickel increased 1.9 percent to $13,890 per metric ton.

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Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome continues to hover for the fifth day in a row. For the fifth consecutive day, the price of Chinese ferro-moly held flat.

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The price of Chinese 316 stainless coil remained essentially flat. The price of Chinese 304 stainless coil saw little movement. The price of Chinese 316 stainless steel scrap held steady. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row. The price of Chinese primary nickel remained essentially flat.