LME Nickel Spot Price Sees Price Drop

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The spot price of nickel experienced the biggest price decline of the day, dropping 0.6 percent on the LME to close at $13,360 per metric ton on Friday, January 10. The nickel 3-month price saw a 0.6 percent decline on the LME to $13,420 per metric ton. The cash price of primary Indian nickel declined 0.2 percent.

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Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome continues to hover for the fifth day in a row. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row.

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The price of Chinese primary nickel fell 0.2 percent. The price of Chinese 316 stainless coil saw little movement. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat.