Cash Price of Primary Indian Nickel Lower

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Dropping 2.2 percent, the cash price of primary Indian nickel was the biggest mover on Thursday, January 23. On the LME, the 3-month price of nickel inched up 0.6 percent to $14,720 per metric ton. At $14,640, the nickel spot price finished the market day on the LME up 0.5 percent per metric ton.

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Chinese stainless steel closed mixed on Thursday. For the fifth consecutive day, the price of Chinese ferro-chrome held flat. The price of Chinese ferro-moly saw little movement.

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The price of Chinese primary nickel saw a 0.3 percent decline. The price of Chinese 316 stainless coil held steady. 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 was unchanged. The price of Chinese 304 stainless steel scrap remained essentially flat.