Small Drift for Chinese Primary Nickel

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Metal Prices, Premium

With a decline of 1.2 percent to CNY 96,300 ($15,808) per metric ton on Tuesday, November 12, the price of Chinese primary nickel recorded the biggest decline of the day. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,692) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,643) 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 coil saw little movement at CNY 26,000 ($4,268) per metric ton.

For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,802) per metric ton.

The cash price of primary Indian nickel saw a 0.7 percent decline to INR 868.20 ($13.67) per kilogram. On the LME, the spot price of nickel fell 0.4 percent to $13,805 per metric ton. On the LME, the 3-month price of nickel declined 0.3 percent to $13,875 per metric ton.

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