Nickel 3-Month Price on the Rise

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Metal Prices, Premium

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.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,359) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,743) per metric ton.

The price of Chinese primary nickel fell 0.2 percent to CNY 97,200 ($15,916) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,257) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,685) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,636) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap was unchanged at CNY 16,400 ($2,685) per metric ton.

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