Nickel Spot Price Sees Small Jump

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Metal Prices, Premium

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 at INR 872.10 ($14.16) per kilogram. On the LME, the 3-month price of nickel increased 1.9 percent to $13,890 per metric ton.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,356) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,691) per metric ton.

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 held steady at CNY 16,100 ($2,631) per metric ton. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,680) per metric ton. The price of Chinese primary nickel remained essentially flat at CNY 97,400 ($15,914) per metric ton.

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