LME Nickel Prices Drop, While China Stainless Stays Flat

On Wednesday, January 29, the day’s biggest mover was the spot price of nickel, which saw a 1.3 percent decline on the LME to $14,075 per metric ton. On the LME, the 3-month price of nickel declined 1.2 percent to $14,155 per metric ton.

The Indian nickel cash price fell 0.8 percent.

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Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat.

The prices of Chinese 304 and 316 stainless coil and scrap were unchanged.

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