Chinese Primary Nickel Moving Again
On Monday, November 11, the day’s biggest mover was the price of Chinese primary nickel, which saw a 1.2 percent decline. The price of Chinese 304 stainless steel scrap saw little movement. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat. The price of Chinese 304 stainless coil held steady. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row.
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The price of Chinese ferro-chrome was unchanged. The price of Chinese ferro-moly remained essentially flat.
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On the LME, the nickel 3-month price fell 1.0 percent to $13,920 per metric ton. The spot price of nickel weakened by 0.6 percent on the LME, settling at $13,860 per metric ton. Following a two-day drop, the Indian nickel cash price increased by 0.5 percent.