Nickel 3-Month Price Improves Slightly

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Metal Prices, Premium

On Wednesday, December 11, the day’s biggest mover was the nickel 3-month price, which saw a 1.3 percent increase on the LME to $14,065 per metric ton. On the LME, the spot price of nickel rose 1.2 percent to $14,000 per metric ton. After falling 1.2 percent, prices settled at INR 852.80 ($13.98) per kilogram, driving an accelerated drop-off since Thursday, December 5. Today marks the fifth day in a row of declining prices for the Indian nickel cash price.

Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,367) 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 ($23,884) per metric ton.

At CNY 95,750 ($15,772), the price of Chinese primary nickel finished the market day up 0.9 percent per metric ton. The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,283) per metric ton. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row, remaining around 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 remained essentially flat at CNY 16,400 ($2,701) per metric ton.

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