Cash Price of Primary Indian Nickel Shifts Up 1.9%

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The Indian nickel cash price saw the biggest upwards shift for the day, rising 1.9 percent to close at INR 901.40 ($14.61) per kilogram on Wednesday, November 6. After a 0.3 percent increase, the spot price of nickel finished the day on the LME at $14,300 per metric ton. At $14,375, the nickel 3-month price finished the market day on the LME up 0.2 percent per metric ton.

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 at CNY 8,300 ($1,361) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,775) per metric ton.

The price of Chinese primary nickel fell 0.3 percent to CNY 98,700 ($16,183) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,263) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,689) per metric ton. The price of Chinese 316 stainless steel scrap held steady at CNY 16,100 ($2,640) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,689) per metric ton.

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