Small Drift for Chinese Primary Nickel

 On Dec. 20, 2012, the day’s biggest mover was the price of Chinese primary nickel, which saw a 0.6 percent decline to CNY 121,300 ($19,457) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat at CNY 18,100 ($2,903) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,600 ($2,663) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around CNY 18,100 ($2,903) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 27,000 ($4,331) per metric ton for the fifth day in a row.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,331) per metric ton. For the fifth consecutive day, the price of Chinese ferro-moly held flat at CNY 145,000 ($23,258) per metric ton.

On the LME, the spot price of nickel fell 0.4 percent to $17,580 per metric ton. The cash price of primary Indian nickel declined 0.1 percent to INR 961.00 ($17.61) per kilogram. The 3-month price of nickel saw a 0.1 percent decline on the LME to $17,675 per metric ton.