Cash Price of Primary Indian Nickel Sees Small Decrease

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The Indian nickel cash price saw a 0.8 percent drop on Monday, November 25, landing at INR 852.60 ($13.53) per kilogram and making it the biggest mover of the day. The spot price of nickel flattened at $13,430 following two-days of declines on the LME. After a couple of days of decreasing prices on the LME, the 3-month price of nickel held steady at $13,505.

Chinese stainless steel prices were mixed for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($23,792) per metric ton.

The price of Chinese primary nickel fell 0.3 percent to a 30-day low of CNY 94,800 ($15,555) per metric ton on Monday. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,266) per metric ton. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,691) per metric ton. For the fifth day in a row, 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 held steady at CNY 16,400 ($2,691) per metric ton.

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