3-Month Price of Nickel Rises 0.5%

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Metal Prices, Premium

On Wednesday, October 30, the day’s biggest mover was the nickel 3-month price, which saw a 0.5 percent increase on the LME to $14,580 per metric ton. At $14,515, the nickel spot price finished the market day on the LME up 0.4 percent per metric ton. The cash price of primary Indian nickel rose 0.1 percent to INR 910.20 ($14.81) per kilogram.

Chinese stainless steel closed mixed on Wednesday. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,363) 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 ($23,807) per metric ton.

The price of Chinese primary nickel saw a 0.2 percent decline to CNY 99,950 ($16,411) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,269) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,693) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,643) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,693) per metric ton.

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