Cash Price of Primary Indian Nickel Falls 2.4%

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Metal Prices, Premium

On Friday, October 11, the day’s biggest mover was the cash price of primary Indian nickel, which saw a 2.4 percent decline to INR 850.70 ($13.84) per kilogram. On the LME, the nickel spot price showed little movement last Friday, hovering around $13,755 per metric ton. On the LME, the nickel 3-month price remained essentially flat at $13,800 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,357) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,712) per metric ton.

The price of Chinese primary nickel increased 0.2 percent to CNY 97,400 ($15,928) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,252) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,682) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,633) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,682) per metric ton.

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