Nickel Spot Price Lower

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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.

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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. The price of Chinese ferro-moly saw little movement.

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After a 0.4 percent increase, the price of Chinese primary nickel finished the day. The price of Chinese 316 stainless coil continues to hover for the fifth day in a row. The price of Chinese 304 stainless coil remained essentially flat. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row. The price of Chinese 304 stainless steel scrap held steady.