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Stainless Steel News and Nickel Prices

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Wednesday, April 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.25/lb ($15,975/tonne). Indicators at 6:00 am CST today show nickel trading around $.06/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose again on Tuesday and started today's session just over the 264,600 tonne level. Nickel is bouncing off the $16,000 tonne level this morning, as bulls try to stay clear of that level, and keep nickel above the 200 day moving average. Technical indicators this morning remain mostly negative. The Euro is lower against the US Dollar this morning, adding more negative pressure. Regretfully, the beached Philippine ore carrier is bearing a tragic story, with the crew having abandoned it in high seas caused by a nearby Typhoon, and only a few of them (so far) surviving the ordeal. Nickel ore has a terrible track record of liquefaction sinking numerous carriers and killing many crew members. That may or may not be the case this time, but if not, the mere fear of such an outcome may have influenced the crews decision to abandon the ship. It's hump day and at noon today, the downhill slide begins. Play it safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.40/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls on virus surge, weak dollar limits losses - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4026
  • SHFE Stainless Steel  Futures (yuan) -  14,065
  • SFSA CaSteel Reporter - pdf here
  • Stainless steel sculpture dropped in Mariana trench will store DNA for 10,000 years - more

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Tuesday's market review - Copper retreats from near 10-year high as equities slip - A rally in copper prices towards 10-year highs paused on Tuesday as rising coronavirus infections pulled global stock markets back from record levels, but strong demand and tight supplies are expected to fuel further gains for the metal. - more

      Four crew dead, 9 missing after cargo ship runs aground in Philippines - Four crew members from a cargo ship that ran aground off the southern Philippines have died, while seven have been rescued and a search is continuing for nine others, the Philippine Coast Guard (PCG) said on Wednesday. - more

      Supply Chain Shortages Not Going Away Soon - The supply chain continues to be a hot topic in the news, sparked by tariffs and trade wars, the coronavirus (COVID-19) pandemic, and most recently, the near week-long blockage of the Suez Canal by container ship Ever Given. - more

  • Supply Chains of Great Possibilities and a ‘Crisis Du Jour’ - more
  • Web or Bust: Why E-Commerce is More Important than Ever for Distributors - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China takes new foreign investment top spot from US - more
  • Nasdaq Futures Slip; Treasury Yields on the Rise: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, April 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.31/lb ($16,125/tonne). Indicators at 6:00 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and started today just under the 264,500 tonne level. That is the highest nickel stockpiles in LME warehouses have measured this year and the highest recorded since July 2018. Nickel continues range bound and doing little more than following the strengthening Euro this morning. Goro, or whatever the new owners will decide to name it, is expected to resume production sometime this week. This follows an announcement that the Philippines would allow new mines to open. Speaking of the Philippines, officials discovered a nickel barge beached on one of their islands, with the crew missing. Not something you typically hear - ever - so we will be following closely to find out the story behind the story. It's Tuesday and numerous industry related stories linked below. Let's be careful out there and have a great day!
  • Average price of LME traded cash nickel so far this month - 
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises back towards 10-year high on weaker dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4169
  • SHFE Stainless Steel  Futures (yuan) -  14,105

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Monday's market review - Bullish investors push copper towards 10-year highs - Copper prices rose on Monday as global stock markets hit record highs and the dollar fell, with many analysts and traders expecting the metal to rally to new 10-year highs. - more

       Global nickel surplus widens in February to 6,200 tonnes -INSG - The global nickel market surplus expanded to 6,200 tonnes in February from a downwardly revised surplus of 3,500 tonnes in the previous month, data from the International Nickel Study Group (INSG) showed on Monday. - more

      After unrest nickel production at New Caledonia plant to resume - New Caledonia's nickel plant at Goro is expected to restart production this week after being shut down during unrest in December. - more

      Search and rescue underway for missing crew after vessel runs aground off Surigao del Norte -  Search and rescue operations are underway for some 20 missing crew members of a vessel that ran aground in waters off Surigao del Norte, the Philippine Coast Guard said Tuesday. - more

      Russia's Nornickel improves its 2021 production outlook - Russian metals producer Nornickel has improved its 2021 production forecast slightly as one of its mines is resuming work ahead of schedule after flooding, its statement showed on Monday. - more

      Gov’t won’t back down on lifting mining ban - The government said it will not give in to pressure to reconsider Executive Order (EO) No. 130, which lifted the moratorium on new mining agreements, citing the need to generate new revenue due to the pandemic. - more

      Singapore prosecution files more charges over nickel trading scandal - Singapore prosecutors on Tuesday filed five additional charges against businessman Ng Yu Zhi in relation to a scheme that allegedly raised at least S$1 billion ($746 million) from investors to fund bogus nickel trades. - more

  • Businessman in billion-dollar nickel investment fraud case faces new cheating charges involving S$8 million - more
      Courtesy AISI - In the week ending on April 17, 2021, domestic raw steel production was 1,770,000 net tons while the capability utilization rate was 78.0 percent. Production was 1,240,000 net tons in the week ending April 17, 2020 while the capability utilization then was 55.4 percent. The current week production represents a 42.7 percent increase from the same period in the previous year.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Slump as Virus Hits Travel Stocks: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, April 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.41/lb ($16,345/tonne). Indicators at 6:00 am CST today show nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started this week, just under the 262,800 tonne level. Nickel, although lower at the moment, is trading off earlier session lows, and could be getting some help from a Euro that is much stronger against the US Dollar. The announcement of 36 new mines in the Philippines are ready to open, may be adding some opposing pressure on prices as well. Regardless, nickel is back to trading in its March range, which is basically a spread between $16,000 and $16,500/tonne. Interesting article below about another potential metals scandal making news. Its the start of April's third full week, and only 250 days left until Christmas. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $7.42/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises as global recovery hopes fuel sentiment - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4160
  • SHFE Stainless Steel  Futures (yuan) -  14,065
  • Manufacturing Production &Capacity by Major Industries - pdf here
  • Industrial Production - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Friday's market review - Copper heads for biggest weekly gain since February - Copper fell on Friday but was still on track for its biggest weekly rise in two months after solid U.S. and Chinese economic data pushed global stock markets to record highs and several investment banks predicted higher prices for the metal. - more

      As Sanjeev Gupta Rose From Trader to Tycoon, Several Banks Backed Away - Four banks dropped Liberty’s commodity trading business after alleged paperwork problems in metal trades. - more

      36 mines to start operations soon - Some 36 mining firms are set to start operations soon following the issuance of Executive Order (EO) 130 that lifted the moratorium on new mining projects. - more

      Johnson Matthey, FMG to build Finland EV materials plant - Johnson Matthey and state investor Finnish Minerals Group (FMG) have agreed to build a plant to produce cathode materials used in electric vehicle (EV) batteries. - more

      Wealthiest 100 People in the World - #58. Vladimir Potanin - more   (remainder of list)

      6 Best Practices to Win with Consigned Inventory - Consignment can be a profitable strategy for distributors, but there are key elements to keep in mind. - more

  • Biden’s infrastructure proposal supports $300B in scattered manufacturing aid - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Europe Stocks Hover at Record Highs; Dollar Dips: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Friday, April 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.42/lb ($16,360/tonne). Indicators at 6:30 am CST today show nickel trading around $.04/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today, just under the 263,000 tonne level. Nickel fell slightly on Thursday and has gained back about half what it lost on Monday. LME nickel is now trading, at what we would describe, as just outside the March channel on the upside. Lots of news to end the week, and from the reports we have posted this week, the only bearish statistic we remember, was the Truck Tonnage chart.  These numbers were from February however, and we are not sure how much weather may have played a factor. The port numbers are at record breaking levels, so there is apparently plenty of goods out there to be moved. China's steel numbers are up, as we reported earlier, regardless of the environmental curbs the country has put in place. Whack-a-mole anyone? The World Steel Association is forecasting steel demand will rise by 2.7% in 2021, with production rising by 5.8%. That's a lot of surplus steel! The week has wound itself down and the weekend is right around the corner. Thank you for spending a few minutes with us, and we hope your weekend is a safe, and enjoyable one!
  • Average price of LME traded cash nickel so far this month - $7.42/b
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper dips but set for weekly gain - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4142
  • SHFE Stainless Steel  Futures (yuan) -  14,045
  • Manufacturing and Trade Inventories and Sales - pdf here
  • Manufacturers Sales - chart here
  • Empire State Manufacturing Survey - pdf here
  • The Distributors Link - online here
  • Manufacturing Outlook for April 2021  - online here
  • The Forward View – Global: April 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Bullish sentiment propels copper to six-week high - Copper gained on Thursday as banks raised their bets on consumption of the metal this year and focused on its longer- term role in the transition to a lower-carbon economy. - more

      worldsteel Short Range Outlook April 2021 - The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand will grow by 5.8% in 2021 to reach 1,874.0 million tonnes (Mt), after declining by 0.2% in 2020. In 2022 steel demand will see further growth of 2.7% to reach 1,924.6 Mt. - more

      9.1% increase in South Korean stainless steel exports in Mar - According to the latest data, South Korea exported around 51,000 tons of stainless steel hot-rolled coil in March, an increase of 9.1% from February. - more

      China’s steel demand seen rising 3% in 2021, but fall next year as stimulus effect subsides – worldsteel - Most steel-using sectors in China will show moderate growth and the country’s steel demand is expected to grow by 3.0% in 2021, but decelerate to 1.0% as the effect of the 2020 stimulus subsides, and the government focuses on more sustainable growth, worldsteel said in its latest short range outlook. - more
  • China March crude steel output leaps on rosy profits, defying environmental curbs - more
  • China March aluminium output climbs to monthly record - more
       Metals Service Center Shipments Up Sharply - March steel and aluminum shipments increased by double digits in both the U.S. and Canada. - more

      Lifting of ban on new projects one less hurdle to mining revival - The local mining industry has one less roadblock on its way to revival after President Duterte lifted a nine-year moratorium on new mineral agreements between the government and the private sector. - more

      Russian researchers have developed a battery that can be charged ten times faster than a lithium-ion battery - Lithium-ion batteries are ubiquitous in our daily life. They’re typically used in smartphones, laptops, watches, and electric vehicles, to name a few. However, these batteries also pose some serious problems. - more

      How do titanium, stainless steel grain structures affect part forming? - The selection of stainless steel and aluminum alloys often is centered around strength, ductility, elongation, and hardness. - more

      US Industrial Production Rises 1.4% as Weather Warms - American industry rebounded last month as the United States recovered from an unusually frigid February. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Stocks Hit Record as U.S. Futures Steady: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Thursday, April 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.43/lb ($16,390/tonne). Indicators at 6:00 am CST today show nickel trading around $.13/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just over the 263,200 tonne level. It would appear the bullish run of last week has officially failed, with nickel trading back back near the 200 day moving average this morning. This average appears to be giving traders technical support, while the 50 day moving average is offering a strong line of resistance, and a line that last weeks bullish run was unable to bust thru. After nickel stockpiles swelled from a gain of 5754 tonnes on Monday, the Philippines received word that President Duterte had lifted a nine year old ban on new mines. And the port of Los Angeles reports its busiest quarter ever, implying strong import numbers. The strike at Allegheny continues, with no positive news out there. It's Thursday, the month is half way over, and the weekly slide is pointing downhill. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.44/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper declines on rising inventories - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4125
  • SHFE Stainless Steel  Futures (yuan) -  14,080
  • Truck Tonnage - chart here
  • Beige Book - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Wednesday's market review - Supply angst propels aluminum to multi-year high - Aluminium prices rose on Wednesday to their highest in nearly three years on worries about supplies from top producer China, where authorities are clamping down on energy-intensive industries to curb carbon emissions. - more

       Philippines lifts nine-year ban on new mines to boost revenues - Philippine President Rodrigo Duterte has lifted a moratorium on new mineral agreements imposed in 2012, reopening the door to investments in a move that will boost state coffers but has dismayed environmental activists. - more
  • Duterte lifts moratorium on new mining agreements - more

      CRU Molybdenum - Top ten calls of 2021 - CRU has picked out 10 key themes that will steer the molybdenum market in 2021. - more

      Sales Compensation: Best Practices in an Uncertain Market - Companies are seeing a new path forward that leaves behind legacy programs that tie income to territory. - more

  • Port of Los Angeles notches busiest first quarter on record - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Rise With Stocks as Bond Yields Slip: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, April 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.33/lb ($16,160/tonne). Indicators at 6:00 am CST today show nickel trading around $.04/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose sharply on Monday (5700+ tonnes) and started today's session just over the 263,200 tonne level. That is the second biggest single day gain this year, second only to March 2nd's 8,208 tonne gain. For the year, LME stockpiles are 16,500+ tonnes higher. Nickel closed about $25/tonne higher yesterday, and the entire base metals sector is trading higher this morning, possibly helped by a higher trading Euro. Besides taking jabs at each other in the media, there is no news from the headquarters of Allegheny Technologies or United Steel Workers, so the strike continues. Fastener sales are up at Fastenal, a good sign for U.S. manufacturing. And a story on Friday's producer price index gives some inflationary concerns to those manufacturers. It's hump day folks, and half of this week will soon be in the bag. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.45/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai aluminum near 10-year high on Chinese supply fear - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4125
  • SHFE Stainless Steel  Futures (yuan) -  14,140

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Tuesday's market review - Copper rebounds on industrial buying; speculators on sidelines - Copper prices recovered on Tuesday as industrial buyers scooped up the material, but speculators remained cautious after top metals consumer China warned it would dampen high commodity prices. - more

      Asian cold-rolled stainless steel price increases on rising nickel price - Last week, the price of stainless steel cold-rolled products went up in the Asian market. Meanwhile, cold-rolled prices in the Chinese domestic market continued fluctuating. - more

      Looking ahead: PolyMet CEO talks status of project, pending litigation - It has been 17 years since PolyMet began planning its NorthMet project. While the copper and nickel mine is now fully permitted, there's another phase the company is working through. - more

      Fastenal's Q1 Safety Sales Slowed as Fasteners Roared Back - The company closed another 46 branches in Q1 as it signed more Onsite locations amid continuing product mix normalization. - more

  • Prices of Materials Used by U.S. Businesses Rise Most Since 1974 - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Edge Higher With Stocks on Earnings: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, April 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.32/lb ($16,135/tonne). Indicators at 6:05 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just under the 257,500 tonne level. Nickel fell back into what we will call the March channel yesterday, after spending the first full week of April higher. Norilsk reported that one of its mines will reopen this month ahead of schedule, after flooding had shut it, and a sister mine, down. While production of stainless steel fell by 19% in India during 2020, the country still maintained its position as the world's second largest producer. China holds the number one position. Having gone on strike on Tuesday, March 30th, USW workers at Allegheny Technologies locations begin week #3 today. Over the weekend, officials from Allegheny demanded that the workers be allowed to vote on  their initial  offer, which USW has refused.  Doesn't sound like much progress is being made, but what is going on behind closed doors is hopefully, more productive. It's Tuesday and a new day - with new challenges and more importantly, new opportunities. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.47/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rebounds on industrial buying; speculators on sidelines - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3878
  • SHFE Stainless Steel  Futures (yuan) -  14,150
  • March 2021 Fastener Distributor Index - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Monday's market review - Copper loses ground on fears of Chinese commodities price caps - Copper prices slipped on Monday on worries that top metals consumer China wants to put a lid on surging commodity prices to head off potential inflation. - more

      Production Recovery At Oktyabrsky Mine is Ahead of Schedule - Nornickel, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper, announces that the Company has resumed production at the Oktyabrsky mine after successfully dealing with the flood. - more

      Nornickel to boost output of nickel products in Finland for EV battery market - Russian metals producer Nornickel said on Tuesday it will boost output of nickel products at its Harjavalta plant in Finland as it bets on the expanding market for battery materials needed for electric vehicles (EV). - more

      India's 2020 stainless steel production ranks second in world - The latest data released by the Indian Stainless Steel Development Association (ISSDA) showed that the output of crude stainless steel in India in 2020 will be nearly one-fifth lower than in 2019. - more

      Courtesy AISI - In the week ending on April 10, 2021, domestic raw steel production was 1,761,000 net tons while the capability utilization rate was 77.6 percent. Production was 1,240,000 net tons in the week ending April 10, 2020 while the capability utilization then was 55.4 percent. The current week production represents a 42.0 percent increase from the same period in the previous year. - more

      February Metalworking Machinery Orders Surge 34% From a Year Earlier - AMT said there was a surprising uptick in February orders from the oil and gas industry despite the weather-related turmoil. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Bond Yields Rise as U.S. Futures Steady Before CPI: Markets Wrap - more
  • Jokowi Says Govt is Readying Roadmap for Making Indonesia 4.0 - more
  • New measures set to maintain China's recovery - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, April 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $7.54/lb ($16,620/tonne). Indicators at 6:05 am CST today show nickel trading around $.15/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started the week just over the 257,600 tonne level. Nickel is down sharply this morning, and Reuters is reporting traders are concerned about multiple comments made in China recently, about the possibility of that country trying potential price control measures to get costs under control. We suspect there is a little more to it than that, as nickel is down over 2%, with other base metals trading slightly lower, or slightly higher at the moment. The Euro is trading higher this morning, which typically adds positive momentum to base metals. Lots of reports came out Friday and they are posted below. More to come during the week. Chinese media is reporting stainless steel production continues to grow, even with the production curbs that have been put in place. Over the years, China has made multiple attempts to curb stainless production for different reasons, pollution control being the most apparent. But they have discovered production curbs, are like playing whack-a-mole. Curb production here, and production increases there. Curb production nationwide and more producers pop up. But they get credit for trying, and we suspect the only real thing that will curb production inside China, is the influx of cheaper priced imports from other countries like Indonesia. Not a desirable tactic, but .....maybe. It's a new week and on Thursday, we will be half way done with April already.  Stay safe out there, and have a great week!
  • Average price of LME traded cash nickel so far this month - $7.49/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Industrial metals slump as traders brace for price control by China - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3870
  • SHFE Stainless Steel  Futures (yuan) -  14,310
  • United States Imports of Nickel February 2021 - chart here
  • US Monthly Wholesale Trade February 2021 - pdf here
  • U.S. Economy in a Snapshot - more
  • Nickel price forecast for 2021 - more

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Friday's market review - Copper heads for weekly gain despite dip on China policy fears - Copper prices edged lower on Friday as strong Chinese inflation data raised fears that the world’s biggest metals consumer will tighten monetary policy, though expected supply tightness kept prices on course for a weekly gain. - more

      ISSDA: India's stainless steel production declines in 2020 - According to statistics from Indian Stainless Steel Development Association (ISSDA), India’s stainless steel melt production was around 3.17 million tons in 2020, declining by approximately 19% compared to 2019. - more

      Producer Price Index by Commodity: Metals and Metal Products: Steel Wire, Stainless Steel - chart here
  • Producer Price Index by Commodity: Metals and Metal Products: Steel Pipe and Tube, Stainless Steel - chart here
  • Producer Price Index by Commodity: Metals and Metal Products: Stainless and Other Alloy Steel Scrap - chart here
  • Producer Price Index by Commodity: Metals and Metal Products: Nonferrous Metals - chart here
  • Producer Price Index by Commodity: Pulp, Paper, and Allied Products: Corrugated Shipping Containers - chart here
  • Producer Price Index by Commodity: Pulp, Paper, and Allied Products - chart here
  • Producer Price Index by Commodity: Pulp, Paper, and Allied Products: Corrugated Paperboard in Sheets and Rolls, Lined and Unlined - chart here

       Sotkamo Silver AB – Finnish mine struggles to fix leak, high uranium found - Finnish nickel miner Talvivaara said on Friday it was still trying to fix a waste water leak at its mine in Sotkamo, eastern Finland, which resulted in high levels of uranium in nearby waters. - more

      CATL takes stake in China Moly cobalt mine for $137.5 million - Chinese battery maker Contemporary Amperex Technology Co Ltd (CATL) said on Sunday its subsidiary would take a stake in China Molybdenum Co’s Kisanfu copper-cobalt mine in the Democratic Republic of Congo (DRC) for $137.5 million. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Retreat After S&P 500 Record; Yields Steady: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Friday, April 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.62/lb ($16,805/tonne). Indicators at 6:55 am CST today show nickel trading around $.08/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and ended that session just over the 257,900 tonne level. Nickel gained for the third consecutive session yesterday, but this morning, has given up yesterday's gains. Media is blaming the potential negative impact from the curbing of credit in China as the reason. We mentioned this yesterday and its been news the whole week, so we doubt this is having much to do with it. Chinese business media is reporting inventories of steel in China fell 10% last week,  and down 7% the preceding week. We also saw yesterday where Chinese exporters of steel were holding off shipments in hopes of a cut in export duties. If they aren't shipping overseas as much, but still seeing stocks fall anyway, consumption 'in' China must be going well. Neither Allegheny Technologies Inc., nor the United Steelworkers have announced any deal, so that strike could start its third week next Tuesday.  And it is Friday, and the first week of April becomes history. Stay safe out there and have a wonderful weekend!
  • Average price of LME traded cash nickel so far this month - $7.48/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls as China inflation fuels fears of credit tightening - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3903
  • SHFE Stainless Steel  Futures (yuan) - 

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Copper rises on supply concerns, lower U.S. dollar - Copper prices climbed on Thursday as concern about available supplies and a lower dollar reinforced bullish sentiment, but rising inventories capped gains as the market awaited trade data from top consumer China. - more

      China's CNGR to make nickel matte in Indonesia as battery demand grows - Chinese battery material maker CNGR Advanced Material Co said on Thursday it would set up a joint venture in Indonesia to produce nickel matte, used to make chemicals for electric car batteries, with a Singapore-based partner. - more

      Reuters: Russian billionaire Potanin to invest $1 billion in new resort with partners - Russian billionaire Vladimir Potanin’s Interros Holding and its partner Vasta Discovery will invest 80 billion roubles ($1.0 billion) in the construction of a new resort in mountains near the Black Sea city of Sochi, they said in a statement on April 8. - more

      Remote Work: An Ongoing Challenge for Distributors & Manufacturers - Former ID editor Jack Keough weighs in on the lasting pros and cons of remote working, and which elements of it will outlast the pandemic. - more

  • Fastener Distributor Index Holds Steady as Outlook Sets Another Record - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Fluctuate as Treasury Yields Rise: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Thursday, April 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.54/lb ($16,625/tonne). Indicators at 6:00 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just over the 257,400 tonne level. Nickel did very little yesterday, but it traded near the high range of Tuesday's bullish day. That is helping the bulls push nickel higher this morning, and at the moment, nickel is trading over the $16,800/tonne level. Metals analysts are speculating that much of this spike in nickel prices can be accredited to President Biden's announced infrastructure plan. This sounds good, but we wonder why the troubling news from China about forced environmental controls against the steel industry and slowdown in credit is not balancing this out. In short, the market, like many of us, is speculating, i.e. hoping, that things are looking brighter and the economy is getting ready to rock and roll, and the stainless steel industry and EV industry, are going to help push nickel demand thru the roof. So will the world get what it hopes for, or does the future hold a more realistic economic bump in store? We will all have to wait but in the mean time, stay safe out there and have a great Thursday!
  • Average price of LME traded cash nickel so far this month - $7.44/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper picks up on weak dollar, U.S. infrastructure plans - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3927
  • SHFE Stainless Steel  Futures (yuan) -  14,475
  • U.S. Imports for Consumption of Steel Products Final report February 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Wednesday's market review - Copper slips as inventories climb and China premiums dip - Copper fell from a two-week high on Wednesday on worries over demand as inventories continued to increase and premiums for the red metal into top consumer China fell. - more

      Upcoming ‘feedstock’ supercycle: what shares take a closer look at - Today I would like to talk about the upcoming “feedstock” super-cycle. Optimism about the world economy’s recovery and growth recently led to a significant rise in prices for some feedstock: copper, nickel, iron ore, silver, oil, wheat, corn and soya beans. - more

      Twin Metals opponents lay out plan to halt mine -  In a wide-ranging press conference last week, representatives of the Campaign to Save the Boundary Waters outlined their plans to block the proposed Twin Metals copper-nickel mine and achieve permanent protection from sulfide mining on 234,000 acres of the Rainy River watershed located upstream of the BWCAW. - more

     GM offers clues to technology aimed at slashing EV battery costs - General Motors Co is testing a variety of battery chemistries, technologies and manufacturing processes aimed at slashing the cost of future electric vehicle batteries and reducing its dependence on such price-sensitive metals as cobalt, President Mark Reuss said on Wednesday. - more

  • China EV battery maker Octillion looks to cash in on carbon neutral drive - more
  • A new type of battery that can charge ten times faster than a lithium-ion battery created - more

      IMF Upgrades Global Growth Forecast - It could be the fastest expansion for the global economy in IMF records dating back to 1980. - more

  • US Trade Deficit Jumps 4.8% - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Rise With Europe Stocks; Treasuries Gain: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, April 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $7.51/lb ($16,567/tonne). Indicators at 6:10 am CST today show nickel trading around $.08/lb  higher. Stockpiles of nickel store din LME licensed warehouses fell on Tuesday and ended that session just over the 258,600 tonne level./ The bulls appear to have successfully pulled nickel out of its narrow based March trading channel and with a vengeance. Nickel traded just shy of $16,800/tonne yesterday and is trading close to that level this morning. The Euro continues to gain against the U.S. Dollar, which is adding positive momentum. Looking at the commodity trading board this morning, it appears nickel is benefiting from a general positive mood market wise, and with no fundamental news out there to blame the increase on, we leave you with that. Whether traders are able to monetize this momentum further, or will be forced to give back the gains over the next few days, remains to be seen. Without some real news to juice the market, it could easily turn out to be the latter. Word from Pittsburgh media implies Allegheny Technologies and USW have a lot of room separating them in their negotiations. Typically, representatives involved in negotiations are pretty close mouthed about what is going on behind closed doors, so this may be speculation. The strike started last Tuesday, so we start day 8. Industry news remains light but we leave you with what we thought might be of interest. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $7.38/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper prices fall on weaker-than-expected China demand - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3927
  • SHFE Stainless Steel  Futures (yuan) -  14,550
  • Manufacturers' Shipments, Inventories, and Orders - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Tuesday's market review - Copper rallies after top producer Chile shuts border - Copper prices climbed on Tuesday due to supply concerns after top producer Chile closed its borders over a spike in coronavirus infections. - more

      India’s stainless steel production slides in 2020 - According to statistics from Indian Stainless Steel Development Association, the country’s stainless steel production totaled 3.17 million tons in the calendar year 2020, sliding by 19% compared to the previous year. - more

      Steel prices likely to go up again in April: Analysts - Steel analysts expect a surge in hot-rolled coil (HRC) prices again, with prices expected to rise between Rs 2,000 and Rs 3,000 a tonne during April 2021. - more

      Import scarcity intensifies EU stainless steel shortage - The shortage of stainless steel coil and sheet in Europe has renewed market discussion surrounding the European Commission’s (EC’s) safeguard quotas. - more

       This company wants to 'mine' garbage to find metals for EV batteries - The rising number of electric vehicles in both the consumer and industrial sectors means electric vehicle battery companies are going to need an increasing amount of valuable metals. - more

      What You Need to Know About COVID-19 Record-Keeping - The pandemic has changed the rules around what documents manufacturing companies need to create, track and retain. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Hover Around Record; Bond Yields Decline: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, April 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.35/lb ($16,200/tonne). Indicators at 6:00 am CST today show nickel trading around $.17/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started this week just shy of the 259,400 tonne level. Nickel has jumped this morning on the LME, possibly to play catch up to Shanghai markets that turned slightly bullish while London traders were on Easter break.  We jumped a few weeks ago as well, but that run did not stick, so we will have to wait to see if this one holds or folds. The Euro is trading higher against the US Dollar, which is adding some positive momentum as well. Another nickel mine in Australia announces a reopening. Average prices  for March have been added and we will try to start adding these monthly. And in Pennsylvania, Ohio, New York, Massachusetts and Connecticut, 1300 United Steelworkers begin a second week on strike against Allegheny Technologies facilities. That is about all we have for you this morning, so stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.26/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits two-week high as top producer Chile shuts borders - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3927
  • SHFE Stainless Steel  Futures (yuan) -  14,430
  • Global Manufacturing PMIs - pdf here
  • State Coincident Indexes - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Copper touches lowest in nearly a month on China demand worries - Copper prices slipped to their lowest in almost a month on Thursday on concern over slowing growth in top metals consumer China as it seeks to rein in debt levels and trim stimulus spending. - more

      Australia's Panoramic Resources to restart operations at Savannah, shares jump - Panoramic Resources will restart its Savannah Nickel Operation in Western Australia, the company said on Tuesday, a year after suspending operations due to the COVID-19 pandemic. - more

       March Raw Material Monthly Averages - Nickel - $7.47/lb / Molybdenum - $12.11/lb / Chromium - $3.53/lb / Iron - $1.04/lb

      Updated guidance on marine transport of ores and concentrates - There have been numerous accident reports which have highlighted the significant risks of transporting cargoes of fines, ores and concentrates such as nickel and iron ore fines. - more

      Courtesy AISI - In the week ending on April 3, 2021, domestic raw steel production was 1,766,000 net tons while the capability utilization rate was 77.9 percent. Production was 1,526,000 net tons in the week ending April 3, 2020 while the capability utilization then was 66.7 percent. The current week production represents a 15.7 percent increase from the same period in the previous year. - more

      US Employers Add 916,000 Jobs in March as Hiring Accelerates - America’s employers unleashed a burst of hiring in March, adding 916,000 jobs in a sign that a sustained recovery from the pandemic recession is taking hold as vaccinations accelerate, stimulus checks flow through the economy and businesses increasingly reopen. - more

  • Growth? Return to Office? What to Expect from Industrial Suppliers’ Latest Earnings Reports - more
  • “Excess Savings” Are Not Excessive - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Dip; Europe Stocks Climb to Record: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Friday, April 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.35/lb ($16,200/tonne). Nickel did very little yesterday, but managed to close above the 200 day moving average. The official cash price was $16,001/tonne - if that tells you anything. We will have to wait a few days to see if the month will start with any directional shifts, as the London Metal Exchange is closed today and Monday for Good Friday and Easter. So our next update will be Tuesday, April 6th. Have a safe, pleasant, and blessed weekend!
  • Average price of LME traded cash nickel so far this month - $7.26/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper posts weekly gain as smelting activity drops - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3889
  • SHFE Stainless Steel  Futures (yuan) -  14,350
  • Global Economic Indicators:Global Manufacturing PMIs - pdf here
  • ISM March Manufacturing PMI - more

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Thursday's market review - Copper touches lowest in nearly a month on China demand worries -  Copper prices slipped to their lowest in almost a month on Thursday on concern over slowing growth in top metals consumer China as it seeks to rein in debt levels and trim stimulus spending. - more

      Tsingshan to build $1.6 bln lithium battery plant in southern China - Chinese nickel and stainless steel giant Tsingshan Holding Group said on Thursday it will invest 10.3 billion yuan ($1.57 billion) to build a lithium-ion battery plant in Guangdong province, which will be operated by the group’s battery unit. - more

      US Manufacturing Sees Fastest Growth Since 1983 - The PMI jumped nearly four points in March to its highest mark since December 1983. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Equity Futures Advance Before Jobs Report: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Thursday, April 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $7.33/lb  ($16,150/tonne). Indicators at 6:00 am CST today show nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just under the 259,200 tonne level. Nickel is struggling to hold onto the 200 day moving average, and yesterday that line looked like it was putting up more resistance than support. At the moment, nickel is trading just below this level, but above the $16,000/tonne level. Today's activity could potentially give us an idea where a new month may see nickel prices head, which has been no where for the past three weeks. Vale is finally done with its Goro Mine in New Caledonia and has handed the keys over to a consortium. Over 1300 employees in nine locations of Allegheny Technologies spend a third day on strike.  And EV sales are on track for another record year. We want to welcome back Scott Stainless as our April sponsor. Scott advertised last year in April and the world was kind of shell shocked at the time, so we are happy to see them back. We also want to thank ELG Metals for their monthly support for all of 2021. The support of these two companies, as well as all our sponsors, keeps the site free for all guests and daily visitors. It's a new month and a day typically saved for April Fools jokes. Stay safe out there and have a  great day!
  • Average price of LME traded cash nickel so far this month - $7.47/lb (average March final)
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper touches lowest in nearly a month on China demand worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comment - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3779
  • SHFE Stainless Steel  Futures (yuan) -  14,350
  • Bureau of Transportation Statistics - more
  • Global Manufacturing PMIs - pdf here
  • Recycling Today - online here
  • Scotiabank Commodity Price Gains Take a Breather Despite Generally Improving Macro Backdrop - pdf here

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

     Wednesday's market review - Copper climbs on Chinese factory data, infrastructure hopes - Copper prices rose on Wednesday on strong factory data in top metals consumer China and on hopes for an influx of new U.S. infrastructure spending. - more

      Vale completes sale of New Caledonia nickel operation - Brazilian miner Vale SA has concluded the sale of its New Caledonia nickel mining assets to a consortium including commodity trader Trafigura, the companies said, opening the way for a production restart at the site hit by political unrest. - more

      1,300 steelworkers in five states strike at Allegheny Technologies - 1,300 steelworkers at 9 mills in five states went on strike Tuesday morning against Allegheny Technologies Inc. in what many workers see as a continuation of a years-long struggle against the company. - more

    Global Top 20 - February 2021 - Registrations were up for an impressive 136% last month, to some 270.000 units, with BEVs in particular jumping 139%, to some 173.000 units, and with February being usually the lowest volume month, expect from then on numbers to jump over 300.000 units per month in the remainder of the year, so we might be seeing the plugin market hit some 4,5 million (5 million?) this year. - more
  • Global Plug-In Electric Car Sales February 2021: Almost 270,000 Sold - more

      Freight TSI is mixed to begin 2021, reports Bureau of Transportation Statistics - The January reading—at 136.1—was up 1.1% over December and down 0.2% compared to January 2020.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Rise on Growth Outlook With Jobs in Focus: Markets Wrap - more

  Morning Stats and Prices

  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more


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(all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 7 am CST, Friday version before 8 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Please note - for real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.




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