Cash Price of Primary Indian Nickel Sees Small Jump

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The Indian nickel cash price saw the biggest increase at 0.5 percent, finishing at INR 865.30 ($14.15) per kilogram for Monday, December 9. The nickel spot price changed direction with a 0.3 percent drop. After two days of improving prices, the metal finished at $13,735 per metric ton on the LME. Following two days of rising prices, the nickel 3-month price dropped 0.1 percent on the LME to $13,825 per metric ton.

Chinese stainless steel closed mixed on Monday. The price of Chinese ferro-chrome was unchanged at CNY 8,300 ($1,365) 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 ($23,838) per metric ton.

The price of Chinese primary nickel rose 0.2 percent to CNY 94,900 ($15,601) per metric ton. For the fifth consecutive day, the price of Chinese 316 stainless coil held flat at CNY 26,000 ($4,274) per metric ton. The price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,696) per metric ton. The price of Chinese 316 stainless steel scrap continues hovering around CNY 16,100 ($2,647) per metric ton for the fifth day in a row. The price of Chinese 304 stainless steel scrap remained essentially flat at CNY 16,400 ($2,696) per metric ton.

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