Spot Price of Nickel Rises 1.0%

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Metal Prices, Premium

On Monday, December 23, the nickel spot price experienced the biggest change, rising 1.0 percent on the LME to $14,210 per metric ton. After a 0.8 percent increase, the nickel 3-month price finished the day on the LME at $14,250 per metric ton. The Indian nickel cash price increased 0.1 percent to INR 900.80 ($14.52) per kilogram.

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 held steady at CNY 145,000 ($23,882) per metric ton.

For the fifth day in a row, the price of Chinese 316 stainless coil remained essentially flat at CNY 26,000 ($4,282) 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. The price of Chinese 316 stainless steel scrap saw little movement at CNY 16,100 ($2,652) per metric ton. The price of Chinese 304 stainless steel scrap continues hovering around CNY 16,400 ($2,701) per metric ton for the fifth day in a row. The price of Chinese primary nickel saw essentially no change for the fifth day in a row, remaining around CNY 95,700 ($15,762) per metric ton.

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