Chinese Primary Nickel Finishes 30-Day Low

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Metal Prices, Premium

Rising 0.2 percent to close at CNY 93,800 ($15,396) per metric ton, the price of Chinese primary nickel experienced the biggest change for Tuesday, December 3. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,692) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,643) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,692) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,267) per metric ton.

The price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,799) per metric ton.

Following a couple days of improvement, the Indian nickel cash price weakened by 0.2 percent. Prices closed at INR 851.90 ($13.66) per kilogram. On the LME, the spot price of nickel fell 0.2 percent to $13,385 per metric ton. The 3-month price of nickel weakened by 0.2 percent on the LME, settling at $13,450 per metric ton.

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