Cash Price of Primary Indian Nickel Drops 3.5%

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Metal Prices, Premium

On Tuesday, November 19, the day’s biggest mover was the Indian nickel cash price, which saw a 3.5 percent decline to INR 844.90 ($13.56) per kilogram. On the LME, the nickel 3-month price rose 0.1 percent to $13,750 per metric ton. The nickel spot price held steady on Tuesday on the LME, remaining around $13,680 per metric ton.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,795) per metric ton.

The price of Chinese 316 stainless coil saw little movement at CNY 26,000 ($4,267) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,691) 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. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,691) per metric ton. The price of Chinese primary nickel saw little change in its price on Tuesday at CNY 96,250 ($15,795) per metric ton.

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