Cash Price of Primary Indian Nickel Improves 1.2%

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The cash price of primary Indian nickel saw a 1.2 percent increase on Monday, October 28, reaching INR 897.30 ($14.60) per kilogram and making it the biggest mover for the day. The 3-month price of nickel weakened by 0.3 percent on the LME, settling at $14,430 per metric ton. On the LME, the nickel spot price declined 0.1 percent to $14,380 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,364) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,832) per metric ton.

The price of Chinese primary nickel weakened by 0.3 percent, settling at CNY 100,200 ($16,469) per metric ton. The price of Chinese 316 stainless coil saw little movement at CNY 26,000 ($4,273) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,695) 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 ($2,646) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,695) per metric ton.

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