Primary Indian Nickel Down; LME 3-Month Price of Nickel Steadies

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On Thursday, January 30, the day’s biggest mover was the Indian nickel cash price, which saw a 2.9 percent decline. The nickel spot price is back up, rising by 0.1 percent on the LME on Thursday to close at $14,095 per metric ton. The 3-month price of nickel steadied at $14,160 per metric ton following two-days of dropping prices on the LME.

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Chinese stainless steel prices were flat 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 remained essentially flat.

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The price of Chinese 316 stainless coil was unchanged. 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 saw essentially no change for the fifth day in a row. The price of Chinese 304 stainless steel scrap held steady. The price of Chinese primary nickel remained essentially flat.