At $14,560 per metric ton, the 3-month price of nickel moved up 1.9 percent on Friday, January 17, making it the day’s biggest mover on the LME. At $14,485, the nickel spot price finished the market day on the LME up 1.7 percent per metric ton. Weakening prices followed two days of improvement as the Indian nickel cash price dropped 0.7 percent.
Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome continues to hover for the fifth day in a row. The price of Chinese ferro-moly held steady.
The price of Chinese primary nickel closed. Following a couple days of improvement, the metal’s price weakened by 0.2 percent. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row. The price of Chinese 304 stainless coil remained essentially flat. The price of Chinese 316 stainless steel scrap continues to hover for the fifth day in a row. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat.