Cash Price of Primary Indian Nickel Up After Two-Day Drop

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On Tuesday, November 26, the day’s biggest mover was the cash price of primary Indian nickel, which saw a 1.1 percent increase to INR 862.20 ($13.83) per kilogram. This increase comes after the price fell for the two previous days. On the LME, the nickel spot price rose 0.3 percent to $13,470 per metric ton. On the LME, the 3-month price of nickel inched up 0.3 percent to $13,540 per metric ton.

Chinese stainless steel closed mixed on Tuesday. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,363) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,803) per metric ton.

Following a 0.1 percent rise yesterday, the price of Chinese primary nickel closed at CNY 94,900 ($15,579) per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,268) 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 steel scrap saw little movement at CNY 16,100 ($2,643) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,692) per metric ton.

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