The cash price of primary Indian nickel fell 1.6 percent on Wednesday, October 16, making it the day’s biggest mover. The nickel 3-month price weakened by 0.4 percent on the LME, settling at $13,950 per metric ton. The spot price of nickel saw little price change on Wednesday on the LME at $13,890 per metric ton.
Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome was unchanged. The price of Chinese ferro-moly held steady.
The price of Chinese primary nickel rose 0.8 percent. The price of Chinese 316 stainless coil remained essentially flat. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat. The price of Chinese 304 stainless steel scrap saw little movement.