Cash Price of Primary Indian Nickel Improves Slightly

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Metal Prices, Premium

Rising 2.8 percent to close at INR 904.00 ($14.91) per kilogram, the Indian nickel cash price experienced the biggest change for Tuesday, October 22. The spot price of nickel changed direction with a 0.6 percent drop. After two days of improving prices, the metal finished at $14,080 per metric ton on the LME. Weakening prices followed two days of improvement as the 3-month price of nickel dropped 0.1 percent on the LME to $14,195 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,797) per metric ton for the fifth day in a row.

The price of Chinese primary nickel fell 0.3 percent to CNY 98,700 ($16,198) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,267) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,692) per metric ton for the fifth day in a row. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,642) per metric ton. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,692) per metric ton.

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