Chinese Primary Nickel Moving Again

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Metal Prices, Premium

On Monday, November 11, the day’s biggest mover was the price of Chinese primary nickel, which saw a 1.2 percent decline to CNY 97,500 ($16,009) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,693) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,644) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,693) 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 ($4,269) per metric ton.

The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,363) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,809) per metric ton.

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 to INR 874.00 ($13.80) per kilogram.

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