Nickel Spot Price Lower

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Metal Prices, Premium

The day’s biggest mover was the spot price of nickel which dropped by 1.2 percent on Friday, October 25 to close at $14,400 per metric ton on the LME. On the LME, the nickel 3-month price fell 1.1 percent to $14,480 per metric ton. After falling for two days, the Indian nickel cash price rose 0.1 percent to INR 886.30 ($14.42) per kilogram.

Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,365) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,843) per metric ton.

After a 0.4 percent increase, the price of Chinese primary nickel finished the day at CNY 100,500 ($16,526) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,275) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,697) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,647) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,697) per metric ton.

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