Spot Price of Nickel Rises 0.9%

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Metal Prices, Premium

On Friday, October 18, the day’s biggest mover was the nickel spot price, which saw a 0.9 percent increase on the LME to $13,960 per metric ton. After falling for two days, the 3-month price of nickel rose 0.9 percent on the LME to $14,030 per metric ton. At INR 862.70 ($14.12), the Indian nickel cash price finished the market day up 0.3 percent per kilogram.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,361) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,771) per metric ton.

The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,262) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,689) per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,639) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,689) per metric ton for the fifth day in a row. The price of Chinese primary nickel remained essentially flat at CNY 98,000 ($16,066) per metric ton.

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