Nickel Spot Price Improves Slightly

The nickel spot price saw a 0.7 percent increase on Tuesday, December 10, reaching $13,830 per metric ton on the LME and making it the biggest mover for the day. After a 0.5 percent increase, the 3-month price of nickel finished the day on the LME at $13,890 per metric ton. After improving for two days, the cash price of primary Indian nickel declined 0.3 percent to INR 863.10 ($14.18) per kilogram.

Chinese stainless steel prices closed flat for the day. The price of Chinese ferro-chrome saw essentially no change for the fifth day in a row, remaining around CNY 8,300 ($1,367) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,882) per metric ton for the fifth day in a row.

The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,282) per metric ton. For the fifth day in a row, the price of Chinese 304 stainless coil remained essentially flat at CNY 16,400 ($2,701) per metric ton. The price of Chinese 316 stainless steel scrap was unchanged at CNY 16,100 ($2,652) per metric ton. The price of Chinese 304 stainless steel scrap held steady at CNY 16,400 ($2,701) per metric ton. The price of Chinese primary nickel held steady around CNY 94,900 ($15,630) per metric ton.