Cash Price of Primary Indian Nickel Switches Direction

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On Thursday, November 28, the day’s biggest mover was the Indian nickel cash price, which saw a 2.1 percent decline. The spot price of nickel saw a 0.5 percent decline on the LME to $13,400 per metric ton. On the LME, the nickel 3-month price declined 0.5 percent to $13,470 per metric ton.

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Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome held steady. For the fifth consecutive day, the price of Chinese ferro-moly held flat.

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The price of Chinese primary nickel reached a 30-day low after decreasing 1.0 percent. The price of Chinese 316 stainless coil saw little movement. The price of Chinese 304 stainless coil continues to hover for the fifth day in a row. The price of Chinese 316 stainless steel scrap remained essentially flat. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat.