Cash Price of Primary Indian Nickel Lower

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Metal Prices, Premium

On Thursday, November 7, the cash price of primary Indian nickel fell by 0.6 percent, landing at INR 895.70 ($14.34) per kilogram and making it the day’s biggest mover. On the LME, the nickel 3-month price declined 0.1 percent to $14,355 per metric ton. On the LME, the spot price of nickel fell 0.1 percent to $14,285 per metric ton.

Chinese stainless steel prices closed flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,798) 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 essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,692) per metric ton. For the fifth day in a row, 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 remained essentially flat at CNY 16,400 ($2,692) per metric ton. After dropping for two days, the price of Chinese primary nickel flattened at CNY 98,700 ($16,199).

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