Cash Price of Primary Indian Nickel Drifts Downwards

On Friday, December 13, the day’s biggest mover was the Indian nickel cash price, which saw a 1.0 percent decline to INR 870.90 ($14.05) per kilogram. On the LME, the 3-month price of nickel increased 0.6 percent to $14,080 per metric ton. After a 0.6 percent increase, the nickel spot price finished the day on the LME at $14,000 per metric ton.

Chinese stainless steel prices were flat for the day. The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,367) per metric ton. The price of Chinese ferro-moly continues hovering around CNY 145,000 ($23,885) per metric ton for the fifth day in a row.

The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,283) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,701) per metric ton. For the fifth day in a row, the price of Chinese 316 stainless steel scrap remained essentially flat 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. The price of Chinese primary nickel remained essentially flat at CNY 95,750 ($15,772) per metric ton.