Prices Up Again for Chinese Primary Nickel

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Metal Prices, Premium

Strengthening prices ended a three-day flat streak as the price of Chinese primary nickel moved up by 1.5 percent on Tuesday, December 24 to CNY 97,150 ($16,006) per metric ton. The price of Chinese 304 stainless steel scrap was unchanged at CNY 16,400 ($2,702) per metric ton. The price of Chinese 316 stainless steel scrap remained essentially flat at CNY 16,100 ($2,653) per metric ton. For the fifth consecutive day, the price of Chinese 304 stainless coil held flat at CNY 16,400 ($2,702) per metric ton. The price of Chinese 316 stainless coil continues hovering around CNY 26,000 ($4,284) per metric ton for the fifth day in a row.

The price of Chinese ferro-chrome saw little movement at CNY 8,300 ($1,367) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,889) per metric ton.

Following two days of rising prices, the cash price of primary Indian nickel dropped 1.1 percent to INR 890.80 ($14.40) per kilogram. On the LME, the 3-month price of nickel rose 1.1 percent to $14,405 per metric ton. On the LME, the spot price of nickel inched up 0.6 percent to $14,300 per metric ton.

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