Nickel 3-Month Price Down

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Metal Prices, Premium

The 3-month price of nickel saw a 1.2 percent drop on the LME on Wednesday, December 18, landing at $13,965 per metric ton and making it the biggest mover of the day. On the LME, the nickel spot price declined 1.0 percent to $13,910 per metric ton. At INR 878.50 ($14.23), the cash price of primary Indian nickel finished the market day up 0.2 percent per kilogram.

Chinese stainless steel prices were 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 ($23,884) per metric ton for the fifth day in a row.

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

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