LME Nickel 3-Month Price Jumps, China 304 Stainless Flat

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On Friday, September 5, the day’s biggest mover was the nickel 3-month price, which saw a 2.4 percent increase on the LME to $19,325 per metric ton. On the LME, the nickel spot price rose 2.2 percent to $19,225 per metric ton. The cash price of primary Indian nickel gained 1.4 percent to finish at INR 1,177 ($19.47) per kilogram.

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Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,352) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,616) per metric ton.

For the fifth day in a row, the Allegheny Ludlum 316 stainless surcharge remained essentially flat at $1.26 per pound. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,235) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,671) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,622) per metric ton. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,671) per metric ton.

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