Nickel 3-Month Price Improves, Stainless Steel Prices Mixed for the Day

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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, 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.

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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. The price of Chinese ferro-moly saw essentially no change for the fifth day in a row.

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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. The price of Chinese 304 stainless coil saw essentially no change for the fifth day in a row. The price of Chinese 316 stainless steel scrap was unchanged. The price of Chinese 304 stainless steel scrap remained essentially flat.