Primary Indian Nickel Cash Price Drops; LME Nickel Prices Also Down

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Dropping 2.9 percent, the cash price of primary Indian nickel was the biggest mover on Friday, November 8. 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.

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Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome was unchanged. The price of Chinese ferro-moly remained essentially flat.

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The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row. The price of Chinese 304 stainless coil continues to hover for the fifth day in a row. The price of Chinese 316 stainless steel scrap saw little movement. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat. The price of Chinese primary nickel held steady.