Small Drift for Nickel 3-Month Price

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Metal Prices, Premium

On Thursday, October 10, the nickel 3-month price fell by 0.7 percent on the LME, landing at $13,800 per metric ton and making it the day’s biggest mover. The nickel spot price weakened by 0.5 percent on the LME, settling at $13,755 per metric ton. The cash price of primary Indian nickel held steady on Thursday, remaining around INR 872.00 ($14.10) per kilogram.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,356) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,693) per metric ton.

After holding steady for the past few days, the price of Chinese primary nickel fell 0.2 percent, closing at CNY 97,200 ($15,882) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,248) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,680) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,631) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,680) per metric ton.

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