Cash Price of Primary Indian Nickel Shifts Up 1.7%

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On Wednesday, November 13, the Indian nickel cash price experienced the biggest change, rising 1.7 percent to INR 883.00 ($13.80) per kilogram. On the LME, the nickel spot price fell 1.1 percent to $13,650 per metric ton. On the LME, the nickel 3-month price declined 1.0 percent to $13,730 per metric ton.

Chinese stainless steel closed mixed on Wednesday. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,798) per metric ton.

The price of Chinese primary nickel saw a 0.5 percent decline to CNY 95,800 ($15,723) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,267) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,692) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,642) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,692) per metric ton for the fifth day in a row.

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