Nickel Spot Price Sees Small Price Drop

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Metal Prices
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 to INR 846.00 ($13.64) per kilogram.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,371) per metric ton for the fifth day in a row. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,952) per metric ton.

The price of Chinese primary nickel fell 0.2 percent to CNY 93,700 ($15,478) per metric ton. The price of Chinese 316 stainless coil saw little movement at CNY 26,000 ($4,295) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,709) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat at CNY 16,100 ($2,660) 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 ($2,709) per metric ton.

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