Cash Price of Primary Indian Nickel Improves Slightly

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Metal Prices, Premium

Rising 0.8 percent to close at INR 915.30 ($14.71) per kilogram, the Indian nickel cash price experienced the biggest change for Friday, November 1. Following a couple days of improvement, the spot price of nickel weakened by 0.3 percent on the LME. Prices closed at $14,510 per metric ton. After improving for two days, the 3-month price of nickel declined 0.2 percent on the LME to $14,570 per metric ton.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,362) per metric ton for the fifth day in a row. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,786) per metric ton.

The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,265) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,690) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,641) per metric ton. The price of Chinese 304 stainless steel scrap was unchanged at CNY 16,400 ($2,690) per metric ton. The price of Chinese primary nickel held steady last Friday, remaining around CNY 100,100 ($16,421) per metric ton.

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