Cash Price of Primary Indian Nickel Improves Slightly

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Metal Prices, Premium

On Thursday, October 17, the day’s biggest mover was the Indian nickel cash price, which saw a 0.7 percent increase to INR 860.00 ($13.99) per kilogram. The nickel spot price saw a 0.4 percent decline on the LME to $13,835 per metric ton. On the LME, the nickel 3-month price declined 0.3 percent to $13,910 per metric ton.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,361) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,769) per metric ton for the fifth day in a row.

For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,262) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,688) per metric ton. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,639) 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 ($2,688) per metric ton. The price of Chinese primary nickel showed little movement on Thursday at CNY 98,000 ($16,064) per metric ton.

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