3-Month Price of Nickel Rises 1.3%

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Metal Prices, Premium

On Tuesday, December 17, the day’s biggest mover was the 3-month price of nickel, which saw a 1.3 percent increase on the LME to $14,135 per metric ton. On the LME, the spot price of nickel rose 1.1 percent to $14,055 per metric ton. The Indian nickel cash price increased 0.2 percent to INR 876.90 ($14.20) per kilogram.

Chinese stainless steel prices were flat for the day. For the fifth consecutive day, the price of Chinese ferro-chrome held flat at CNY 8,300 ($1,367) per metric ton. The price of Chinese ferro-moly saw little movement at CNY 145,000 ($23,884) per metric ton.

The price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,283) 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 held steady at CNY 16,100 ($2,652) 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 ($2,701) per metric ton. The price of Chinese primary nickel remained essentially flat at CNY 95,750 ($15,771) per metric ton.

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