Nickel Spot Price Shifts Up 1.9%

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Metal Prices, Premium

The nickel spot price saw the biggest increase at 1.9 percent on the LME, finishing at $13,780 per metric ton for Friday, December 6. On the LME, the nickel 3-month price increased 1.9 percent to $13,840 per metric ton. After a 0.6 percent increase, the cash price of primary Indian nickel finished the day at INR 860.70 ($13.97) per kilogram.

Chinese stainless steel closed mixed last Friday. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,362) per metric ton. For the fifth day in a row, the price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,797) per metric ton.

After improving for two days, the price of Chinese primary nickel declined 0.2 percent to CNY 94,750 ($15,550) per metric ton. The price of Chinese 316 stainless coil was unchanged at CNY 26,000 ($4,267) per metric ton. The price of Chinese 304 stainless coil held steady at CNY 16,400 ($2,692) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,642) per metric ton for the fifth day in a row. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat at CNY 16,400 ($2,692) per metric ton.

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