Spot Price of Nickel Lower

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Metal Prices, Premium

The nickel spot price saw a 1.0 percent drop on the LME on Friday, November 29, landing at $13,260 per metric ton and making it the biggest mover of the day. The nickel 3-month price weakened by 1.0 percent on the LME, settling at $13,335 per metric ton. At INR 850.10 ($13.62), the cash price of primary Indian nickel finished the market day up 0.2 percent per kilogram.

Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome continues hovering around CNY 8,300 ($1,363) per metric ton for the fifth day in a row. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,804) per metric ton.

The price of Chinese primary nickel fell 0.2 percent to a 30-day low of CNY 93,650 ($15,374) per metric ton last Friday. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,268) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,692) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,643) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,692) per metric ton.

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