Nickel Spot Price Shifts Up 1.6%

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On Dec. 17, 2012, the spot price of nickel experienced the biggest change, rising 1.6 percent on the LME to $17,700 per metric ton. On the LME, the nickel 3-month price gained 1.6 percent to finish at $17,775 per metric ton. The cash price of primary Indian nickel weakened by 0.4 percent, settling at INR 958.90 ($17.60) per kilogram.

Chinese stainless steel closed mixed yesterday. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,329) per metric ton. The price of Chinese ferro-moly was unchanged at CNY 145,000 ($23,217) per metric ton.

The price of Chinese primary nickel rose 0.2 percent to CNY 123,500 ($19,775) per metric ton. The price of Chinese 316 stainless coil saw little movement at CNY 27,000 ($4,323) per metric ton. The price of Chinese 304 stainless coil showed little movement on Monday at CNY 18,100 ($2,898) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,600 ($2,658) per metric ton. Chinese 304 stainless steel scrap stayed flat at around CNY 18,100 ($2,898) per metric ton.

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