Primary Indian Nickel Sees Small Jump; LME 3-Mo Nickel Rises

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On Wednesday, January 22, the cash price of primary Indian nickel experienced the biggest change, rising 2.3 percent. On the LME, the nickel 3-month price rose 1.0 percent to $14,625 per metric ton. After a 0.9 percent increase, the spot price of nickel finished the day on the LME at $14,560 per metric ton.

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

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The price of Chinese primary nickel rose 0.7 percent after a two-day drop. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat. The price of Chinese 304 stainless coil held steady. The price of Chinese 316 stainless steel scrap remained essentially flat. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat.