Small Drift for Cash Price of Primary Indian Nickel

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Metal Prices, Premium

The day’s biggest mover was the Indian nickel cash price which dropped by 0.8 percent on Wednesday, December 4 to close at INR 845.10 ($13.55) per kilogram. On the LME, the spot price of nickel fell 0.3 percent to $13,345 per metric ton. The nickel 3-month price saw a 0.3 percent decline on the LME to $13,410 per metric ton.

Chinese stainless steel closed mixed on Wednesday. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,362) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,802) per metric ton.

The price of Chinese primary nickel rose 0.1 percent to CNY 93,900 ($15,414) per metric ton. The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,268) per metric ton. 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 steel scrap continues hovering around CNY 16,100 ($2,643) per metric ton for the fifth day in a row. 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.

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