Primary Indian Nickel Improves; LME Nickel Spot Rises
The Indian nickel cash price moved up 1.1 percent on Wednesday, February 19, making it the day’s biggest mover. On the LME, the nickel spot price rose 0.5 percent to $14,400 per metric ton. On the LME, the 3-month price of nickel gained 0.4 percent to finish at $14,450 per metric ton.
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Chinese stainless steel prices closed flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat. The price of Chinese ferro-moly held steady.
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The price of Chinese 316 stainless coil continues to hover 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. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat. The price of Chinese primary nickel held steady.