Cash Price of Primary Indian Nickel Down

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Metal Prices
On Monday, January 6, the Indian nickel cash price fell by 1.5 percent, landing at INR 876.90 ($14.10) per kilogram and making it the day’s biggest mover. On the LME, the nickel 3-month price fell 0.4 percent to $13,915 per metric ton. On the LME, the nickel spot price declined 0.3 percent to $13,860 per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome held steady at CNY 8,300 ($1,372) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,964) per metric ton.

The price of Chinese primary nickel weakened by 0.6 percent, settling at CNY 95,150 ($15,725) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,297) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,710) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,661) 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 ($2,710) per metric ton.

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