Following two days of increases on the LME, the 3-month price of nickel dropped by 2.1 percent to end at $14,105 per metric ton on Wednesday, December 25. Following a couple days of improvement, the nickel spot price weakened by 1.8 percent on the LME. Prices closed at $14,045 per metric ton. The Indian nickel cash price inched up 1.3 percent.
Chinese stainless steel prices were mixed for the day. The price of Chinese ferro-chrome continues to hover for the fifth day in a row. The price of Chinese ferro-moly was unchanged.
The price of Chinese primary nickel declined 0.9 percent. The price of Chinese 316 stainless coil held steady. The price of Chinese 304 stainless coil remained essentially flat. For the fifth consecutive day, the price of Chinese 316 stainless steel scrap held flat. For the fifth day in a row, the price of Chinese 304 stainless steel scrap remained essentially flat.