Primary Indian Nickel Shifts Up; LME Nickel Falls Slightly

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The cash price of primary Indian nickel saw a 1.4 percent increase on Friday, February 28, making it the biggest mover for the day. The 3-month price of nickel closed at $14,210 per metric ton. Following a couple days of improvement, prices fell by 0.8 percent on the LME. Weakening prices followed two days of improvement as the spot price of nickel dropped 0.7 percent on the LME to $14,180 per metric ton.

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Chinese stainless steel prices closed flat 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.

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