Cash Price of Primary Indian Nickel Up Again

The cash price of primary Indian nickel rose 4.8 percent on Monday, January 13, making it the day’s biggest mover. After two days of falling prices, it closed at INR 886.40 ($14.43) per kilogram. The spot price of nickel rose 2.4 percent on the LME to $13,675 per metric ton after a two-day drop. Following a two-day drop, the 3-month price of nickel increased by 2.2 percent on the LME to $13,715 per metric ton.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome remained essentially flat 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 ($23,966) per metric ton.

For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,297) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,711) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,661) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,711) per metric ton for the fifth day in a row. The price of Chinese primary nickel flattened at CNY 93,700 ($15,487) per metric ton after two days of downward movement.