Spot Price of Nickel Up After Two-Day Decline

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Metal Prices, Premium

Following a two-day decline on the LME, the spot price of nickel climbed up 1.1 percent to end at $13,410 per metric ton on Monday, December 2. The 3-month price of nickel rose 1.0 percent on the LME to $13,475 per metric ton after a two-day drop. The Indian nickel cash price rose 0.4 percent to INR 853.50 ($13.67) per kilogram.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row, remaining around CNY 145,000 ($23,793) per metric ton.

Following two days of downward movement, the price of Chinese primary nickel held steady at CNY 93,600 ($15,358) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,266) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,691) 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 ($2,642) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,691) per metric ton.

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