Chinese Primary Nickel Up 0.6%

Following a two-day decline, the price of Chinese primary nickel climbed up 0.6 percent to end at CNY 96,400 ($15,821) per metric ton on Thursday, November 14. 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 ($2,642) per metric ton. 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 coil was unchanged at CNY 26,000 ($4,267) per metric ton.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,797) per metric ton for the fifth day in a row.

On the LME, the 3-month price of nickel declined 0.6 percent to $13,650 per metric ton. On the LME, the spot price of nickel fell 0.4 percent to $13,600 per metric ton. The Indian nickel cash price weakened by 0.1 percent, settling at INR 882.00 ($13.92) per kilogram.