The Indian nickel cash price saw the biggest increase at 2.5 percent, finishing at INR 809.80 ($13.47) per kilogram for Wednesday, July 10. The nickel 3-month price fell 1.4 percent to a 30-day low on the LME of $13,240 per metric ton yesterday. Yesterdayon Wednesday price drop of 1.2 percent carried the nickel spot price to a 30-day low of $13,155 per metric ton on the LME.
Chinese stainless steel closed mixed on Wednesday. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,354) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,653) per metric ton.
The price of Chinese primary nickel fell to a 30-day low at CNY 94,800 ($15,464) per metric ton after shifting 0.3 percent. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,241) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,675) per metric ton. The price of Chinese 316 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,100 ($2,626) per metric ton. The price of Chinese 304 stainless steel scrap saw little movement at CNY 16,400 ($2,675) per metric ton.