Cash Price of Primary Indian Nickel Shifts Up 1.9%

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The cash price of primary Indian nickel saw the biggest increase at 1.9 percent, finishing at INR 879.40 ($14.36) per kilogram for Monday, October 21. On the LME, the nickel spot price gained 1.5 percent to finish at $14,165 per metric ton. At $14,210, the nickel 3-month price finished the market day on the LME up 1.3 percent per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,360) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,756) per metric ton.

The price of Chinese primary nickel improved by 1.0 percent, closing at CNY 98,950 ($16,212) per metric ton yesterday. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,260) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,687) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,638) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,687) per metric ton.

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