Cash Price of Primary Indian Nickel Lower

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Metal Prices, Premium

On Thursday, December 26, the cash price of primary Indian nickel fell by 0.8 percent, landing at INR 894.70 ($14.48) per kilogram and making it the day’s biggest mover. On the LME, the spot price of nickel held steady around $14,045 per metric ton. On the LME, the nickel 3-month price saw little change in its price on Thursday at $14,105 per metric ton.

Chinese stainless steel prices were flat for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat at CNY 8,300 ($1,366) per metric ton. The price of Chinese ferro-moly remained essentially flat at CNY 145,000 ($23,863) per metric ton.

The price of Chinese 316 stainless coil held steady at CNY 26,000 ($4,279) per metric ton. The price of Chinese 304 stainless coil was unchanged at CNY 16,400 ($2,699) 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 ($2,650) per metric ton. The price of Chinese 304 stainless steel scrap saw essentially no change for the fifth day in a row, remaining around CNY 16,400 ($2,699) per metric ton. The price of Chinese primary nickel showed little movement on Thursday, hovering around CNY 96,300 ($15,848) per metric ton.

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