Cash Price of Primary Indian Nickel Up

On Wednesday, January 15, the Indian nickel cash price experienced the biggest change, rising 3.1 percent to INR 886.90 ($14.43) per kilogram. On the LME, the nickel spot price rose 2.2 percent to $14,280 per metric ton. At $14,345, the nickel 3-month price finished the market day on the LME up 2.2 percent per metric ton.

Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,374) per metric ton. The price of Chinese ferro-moly held steady at CNY 145,000 ($24,005) per metric ton.

The price of Chinese primary nickel increased 3.1 percent to CNY 96,600 ($15,992) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,304) per metric ton for the fifth day in a row. The price of Chinese 304 stainless coil saw little movement at CNY 16,400 ($2,715) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,665) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,715) per metric ton.