Nickel 3-Month Price on the Rise; Stainless Steel Prices Mixed

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Strengthening prices ended a two-day flat streak as the 3-month price of nickel moved up by 1.4 percent on Tuesday, October 15 on the LME to $14,000 per metric ton. On the LME, the spot price of nickel rose 1.3 percent to $13,900 per metric ton. The cash price of primary Indian nickel gained 1.2 percent to finish at INR 867.90 ($14.11) per kilogram.

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Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly saw little movement.

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The price of Chinese primary nickel fell 0.2 percent. The price of Chinese 316 stainless coil was unchanged. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row. The price of Chinese 316 stainless steel scrap continues to hover for the fifth day in a row. The price of Chinese 304 stainless steel scrap was unchanged.