Dropping 2.9 percent, the cash price of primary Indian nickel was the biggest mover on Friday, November 8, closing at INR 869.60 ($13.83) per kilogram. The spot price of nickel saw a 2.4 percent decline on the LME to $13,945 per metric ton. On the LME, the 3-month price of nickel fell 2.1 percent to $14,055 per metric ton.
Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,800) per metric ton.
The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 26,000 ($4,268) per metric ton. The price of Chinese 304 stainless coil continues hovering around CNY 16,400 ($2,692) per metric ton for the fifth day in a row. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,643) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,692) per metric ton. The price of Chinese primary nickel held steady around CNY 98,700 ($16,200) per metric ton.