After Two-Day Rise, Cash Price of Primary Indian Nickel Falls

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The Indian nickel cash price fell 0.2 percent on Thursday, October 31 to INR 908.00 ($14.80) per kilogram, making it the day’s biggest mover. On the LME, the nickel spot price rose 0.2 percent to $14,550 per metric ton. After a 0.1 percent increase, the 3-month price of nickel finished the day on the LME at $14,600 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,362) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,795) per metric ton.

The price of Chinese primary nickel increased 0.2 percent to CNY 100,100 ($16,427) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,267) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,691) per metric ton. 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 saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,691) per metric ton.

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