LME Spot Price of Nickel 1.5% Lower

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The nickel spot price fell 1.5 percent on Friday, February 21 to $14,260 per metric ton on the LME, making it the day’s biggest mover. Following two days of rising prices, the nickel 3-month price dropped 1.4 percent on the LME to $14,300 per metric ton. The Indian nickel cash price saw a 0.8 percent decline.

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Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome was unchanged. The price of Chinese ferro-moly saw little movement.

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The price of Chinese primary nickel fell 0.3 percent. The price of Chinese 316 stainless coil saw essentially no change for the fifth day in a row. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat. The price of Chinese 304 stainless steel scrap remained essentially flat.