Primary Indian Nickel Up After Two-Day Drop

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The Indian nickel cash price closed as the biggest mover for Friday, February 7. Switching from a downward trend, the metal closed following a 0.6 percent increase. The nickel spot price saw a 0.1 percent decline on the LME to $13,815 per metric ton. The nickel 3-month price weakened by 0.1 percent on the LME, settling at $13,880 per metric ton.

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Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome was unchanged. The price of Chinese ferro-moly held steady.

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For the fifth consecutive day, the price of Chinese 316 stainless coil held flat. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row. The price of Chinese 316 stainless steel scrap continues to hover for the fifth day in a row. The price of Chinese 304 stainless steel scrap saw little movement. For the fifth consecutive day, the price of Chinese primary nickel held flat.