The day’s biggest mover was the 3-month price of nickel which dropped by 0.6 percent on Monday, February 17 to close at $14,260 per metric ton on the LME. Following two days of rising prices, the Indian nickel cash price dropped 0.5 percent. On the LME, the spot price of nickel fell 0.3 percent to $14,225 per metric ton.
Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly continues to hover for the fifth day in a row.
The price of Chinese primary nickel finished the market day up 0.1 percent per metric ton. The price of Chinese 316 stainless coil was unchanged. 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 saw little movement. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat.