Nickel closed Monday's trading
session at $8.72/lb ($19,220/tonne). Indicators at 5:40 am CST today show
nickel trading
unchanged. Stockpiles of nickel stored in LME licensed warehouses also
went unchanged on Monday and remain just under the 78,600 tonne level.
Shanghai nickel rose to 143,140 y/t overnight. A reminder.... Shanghai
markets will be closed for the remainder of this week for their Labour
Day holiday. As we end another month, we want to thank our site sponsor
for their continued support. If you haven't
visited their website yet, or its been awhile since you have, we invite
you to visit PA Inc's
new website. And if they offer product you use, please give them a shot
on your next quote. It is their support that makes it possible to keep
this news site updated daily. Stay safe out there today, and we hope to
see you again in May.
Average price of LME traded cash nickel
so far this month
- $8.23/lb
Reports
Reuters metals morning - LME zinc set for best monthly gain since 2006 - more
Monday's market review - Copper hits two-year high,
buoyed by BHP bid for Anglo - Copper prices soared to two-year highs on
Monday, driven by supply concerns highlighted by BHP Group’s bid for
Anglo ... - more
First Quantum to shut down Ravensthorpe nickel mine -
Canadian miner First Quantum Minerals has decided to shut down its
Ravensthorpe nickel operation in Western Australia. - more
Steel market outlook deteriorates further in aftermath of
worse-than-expected recession - The outlook for the European steel
market in 2024 continues to lose momentum amidst persisting challenging
conditions. - more
CISA: China's steel industry needs to reduce inventory and
secure margins - China's steel sector currently faces high output, high
costs, and high inventory levels, alongside low demand, low prices, and
.... - more
Trade defense focus grows as Chinese steel exports rise - more
Volgograd region becoming large stainless steel
distribution center - According to reports, the 10th International
Conference on "Stainless Steel and the Russian Market" was held in
Volgograd, Russia. - more
Takeover rules to prevent Anglo from saying much on BHP
bid at AGM - BHP’s $39 billion bid will be the elephant in the room at
Anglo American’s Tuesday annual general meeting, with regulations
meaning little ... - more
Courtesy AISI - In the week ending on April 27, 2024, domestic raw
steel production was 1,701,000 net tons while the capability
utilization rate was 76.6 percent. Production was 1,769,000 net tons in
the week ending April 27, 2023 while the capability utilization then
was 78.6 percent. - more
Indonesia: remember the dead, fight for the living - On 28 April,
2024 a commemoration event was held in Morowali, Central Sulawesi,
Indonesia to honor 21 workers who died in the furnace explosion... - more
Other News
CPCA: China’s passenger vehicle retail sales in Apr down 5.3% from Mar - more
U.S. Demand for Shein, Temu Prompts Rise in Air Cargo Rates - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Friday's trading
session at
$8.73/lb
($19,255/tonne). Indicators at 5:45 am CST today show
nickel trading around $.02/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Friday and ended last week just under the 78,600 tonne level. Shanghai
nickel fell to 132,850 y/t overnight. Here is your vacation schedule
for the first of May. Shanghai markets are closed Wednesday May 1st,
and remain so for the remainder of the week. London markets are closed
Monday, May 6th - all closures for the Labour Day holiday. Anglo
rejected BHP's initial offer, but no one expects BHP to give up after
the first try. LME nickel stockpiles hit their highest recorded level
since March 2022 on Friday. But the price continues to climb. Stay safe out there and have a great Monday!
Average price of LME traded cash nickel
so far this month
- $8.20/lb
Reports
Reuters metals morning - Copper trends higher on tight supply; BHP-Anglo American deal in focus - more
BHP considering improved proposal for Anglo American
after bid rejected, source says - BHP Group, opens new tab is
considering making an improved offer for Anglo American, opens new tab
after... - more
Anglo American does not find BHP $39 bln offer
attractive - more
BHP's $39 Billion Copper Play Was Years in the
Making - more
Yusco rises
stainless steel export prices for May - Yieh
United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan,
has announced its stainless steel price list in the domestic market for
May, ... - more
Australia's
Ardea soars on nickel project deal with Sumitomo, Mitsubishi - The
Australian nickel miner says it signed a binding deal with Japan's
Sumitomo Metal Mining and Mitsubishi Corp to develop the ... - more
New Caledonia's pro-French party gets first Kanak
President - (excerpt) He also has a good knowledge of the nickel
industry (he worked for French Société le Nickel company and is still
an advisor to ... - more
Indonesian Miner Eyes Nickel Assets as it Shifts Focus From
Coal - Indonesian coal company PT Harum Energy is looking to buy more
nickel mines as it ceases further investment in fossil fuels in order
to ... - more
Indonesia proposes critical minerals trade
deal with US - more
Indonesia issues new mining permit for Vale Indonesia, minister says - more
Deforestation in Indonesia spiked last year, but resources analyst sees better overall trend - more
Few executives believe their supply chains can respond
quickly to disruptions - When a Dun & Bradstreet report came
out in
March suggesting that most supply chains are underprepared for big
disruptions,... - more (Opinion
- Manufacturers turn to single source suppliers to keep their operation
sustained. Keeping their customers supplied is a distributors sole
purpose and under that constraint, and the ease of replaceability,
they can not afford to use
single sources. For example - Dollar Tree has multiple warehouses but
if they didn't...... Dollar Tree warehouse in Marietta, Oklahoma this
weekend (video here))
Other News
U.S. Economy Slows as Inflation Heats Up in Q1
2024 - more
Pair of $1 bills with same printing error could
be worth thousands. How to check - more
EU criticises Russia over control of German,
Italian firms' units - more
Russian think tank warns of stagnating
industrial output, investment - more
Tesla Autopilot Linked To 13 Deaths, Hundreds
Of Crashes In New Investigation - more
Economic Stats and
Prices (posted in
Friday edition)
Nickel closed Thursday's trading
session at $8.66/lb ($19,100/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.15/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Thursday and started today just under the 77,800 tonne level. Shanghai
nickel rose to 145,870 y/t overnight. Nickel bulls have rested up and
appear to be making another rush higher to end the week, and thanks in
part to a slowly strengthening Euro and fresh fund investment, they
appear to be successful .... so far. The last few weeks have seen
nickel end the week higher, more gains seen on Monday, and then a sharp
fall on Tuesday. We will see how this rally works out. Stay safe out
there and have a great weekend!
Average price of LME traded cash nickel
so far this month
- $8.17/lb
Reports
Reuters metals morning - Copper hits two-year high, surpassing $10,000/T on investment flows - more
Taiwan’s stainless steel market expected to keep uptrend
- The stainless steel market is experiencing a resurgence, because the
international nickel surged, and Taiwanese upstream steel manufactures’
price lists ...- more
INSG's latest forecasts cold comfort for nickel producers -
Nickel has rallied hard this month, clawing back some of the territory
lost during its relentless price slide over the course of 2023. - more
Acerinox reports a significant reduction in debt and an increase in
EBITDA in the first quarter of 2024 - (excerpt) Acerinox announced on
February 5 the signing of an agreement under which its wholly owned US
subsidiary, North American Stainless, will acquire Haynes
International, a US leading developer, manufacturer, and marketer of
technologically advanced high-performance alloys. - more
Anglo American does not find BHP $39 bln offer attractive, sources say
- Anglo American does not consider a proposed $39 billion takeover
offer from BHP Group as attractive, two sources told Reuters, ... - more
Other News
Apple cuts 14 suppliers over conflict minerals - more
Shenzhou-18 successfully launched, sending
three taikonauts, fish to Chinese space station - more
Talking Supply Chain: Understanding the FTC’s ban on non competes - more
Economic Stats and
Prices (posted in
Friday edition)
Nickel closed Wednesday's trading
session at $8.58/lb ($18,905/tonne). Indicators at 5:50 am CST today show
nickel trading around $.05/lb
higher. Stockpiles of nickel stored in LME warehouses rose on Wednesday
and ended that session just over the 77,600 tonne level. Shanghai
nickel rose to 143,820 y/t overnight. The bears and bulls appear to be
fighting over the $19,000 tonne level and at the moment, the Euro is
helping the bulls by sneaking higher. BHP made a takeover bid for Anglo
American today, that will be interesting to watch as shareholders
scramble to figure out what it means for their company. Stay safe out
there and have a great day!
Average price of LME traded cash nickel
so far this month
- $8.15/lb
Reports
Reuters metals morning - Copper rises on funds inflow, potential supply shortage - more
Wednesday's market review - Copper back on the rise
despite lack of Chinese buyers - Copper resumed its upward momentum on
Wednesday after a two-session pause, but traders said Chinese ... - more
China's stainless steel products imports, exports hike in
Jan-Mar y-o-y - According to the report, China imported approximately
608,000 tons of stainless steel products from January to March,
increasing by... - more
More Chinese Nickel Seen Flowing Overseas After LME’s Russia Ban -
More Chinese nickel is expected to flow overseas after the London Metal
Exchange banned new Russian supplies, according to Mysteel Global. - more
China crude steel production -7.8% on March, 2023 and
-4.0% on Q1 2023 - Worldsteel reported crude steel production in China
at 88.3 million metric tonnes in March, 7.8% lower than in March, 2023.
- more
BHP Targets Anglo in Bid Valuing Miner at $39 Billion - BHP Group
Ltd. proposed a takeover of Anglo American Plc that values the smaller
miner at £31.1 billion ($38.9 billion), in a deal that would create the
... - more
Five Eyes countries working to fight critical minerals
dumping, Canada minister says - Canada and its Five Eyes Alliance
partners are working on put forward a response to tackle the price
manipulation of critical ... - more
Will Indonesia's New President Continue Nickel Policy, Which
Undercuts Competitors? - When Indonesia's new president, Prabowo
Subianto, assumes office in October he'll preside over the world's
biggest nickel ... - more
Survey reveals strategies for addressing supply chain,
logistics labor shortages - A talent shortage has dominated the
conversation in multiple industries. The supply chain is no different.
Back in January, ...- more
Battery Recycling Shatters the Myth of Electric-Vehicle Waste - Are
electric cars really that much better for the environment? With
recycling, the question is a no-brainer. - more
Other News
Corrosion Study on Duplex Stainless Steel UNS S31803 Subjected to Solutions Containing Chloride Ions - pdf here
DOL will raise overtime salary threshold to $44K in July, $59K next year - more
Nickel closed Tuesday's trading
session at $8.64/lb ($19,055/tonne). Indicators at 5:50 am CST today show
nickel trading around $.08/lb
higher. Stockpiles of nickel stored in LME licensed warehouses went
unchanged on Tuesday and remain just under the 76,900 tonne level.
Shanghai nickel rose to 142,990 y/t overnight. Unlike Monday, when
nickel jumped prices after we posted, all of the movement yesterday
took place early and nickel traded quietly during the afternoon. While
the official price for the day registered below, the $19,000 tonne
level held and nickel is trading back higher this morning. Worldsteel
reports global steel production was down 4.3% YOY in March. Stay safe out there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $8.12/lb
Nickel price surge triggers swift market reactions in
stainless steel industry - Last week, LME nickel prices surged above
US$19,300 per ton, followed by further increases in the Asian market
this Monday. - more
March 2024 crude steel production - World crude steel
production for the 71 countries reporting to the World Steel
Association (worldsteel) was 161.2 million tonnes (Mt) in March 2024, a
4.3% decrease... - more
China's
steel demand expected to be weak in traditionally stronger Q2 - China's
overall steel demand is expected to remain subdued in a traditionally
stronger second quarter, mill and trading sources said... - more
Merafe Resources’ ferrochrome output falls in Q1 - South
Africa-based ferrochrome producer Merafe Resources has announced its
production results for the first quarter of the current year.
Accordingly .... - more
For High Nickel Alloy and Specialty Stainless Steel Piping
Requirements - contact PA Inc at 713-570-4900 and visit them at www.painc.com
Australian battery metal company shifts to gas amid nickel slump - A
company that had planned to process imported nickel ore in Australia to
supply the electric vehicle industry says it is switching its focus...
- more
IEA Global EV Outlook 2024 - The Global EV Outlook 2024 was
prepared by the Energy Technology Policy (ETP) Division of the
Directorate of Sustainability, Technology and Outlooks(STO) of the... - pdf here
Other News
China lays out five major goals it expects to focus on for Blinken's China visit - more
California Homeowners: Insured No More Amid Fire Danger - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Monday's trading
session at $8.90/lb ($19,620/tonne). Indicators at 5:50 am CST today show
nickel trading around $.27/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose
sharply for a second consecutive day, and started today's trading
session just under the 76,900 tonne level. Shanghai nickel fell to
140,970 y/t overnight. Profit taking appears to be the order of the day
with the $19,000 tonne level being used as a temporary base by the
nickel bulls to protect their rally. More news than normal today so we
leave you to it. Stay safe out there and have a great Tuesday!
Average price of LME traded cash nickel
so far this month
- $8.10/lb
China’s stainless steel exports up 9.8 percent in Q1 - In
March this year, China's stainless steel imports amounted to 152,700
mt, down 31.4 percent month on month, while up 23.8 percent year on
year ... - more
EU importers of stainless-steel products from Turkey,
Vietnam, Taiwan to face anti-circumvention duties at bloc’s borders -
EU companies relying on imports of stainless steel cold-rolled flat
products from .... - more
China’s steel sector has bigger worries than Biden tariff
hike - U.S. President Joe Biden’s push to triple tariffs on Chinese
steel imports strikes a mostly symbolic blow on an industry facing
bigger concerns... - more
Chinese Nickel Billionaire Boosts Australian Miner in Indonesia - A
little-known Australian company is becoming the Western face of a
Chinese nickel behemoth. - more
EU steel industry faces supply and demand challenges -
Balancing supply and demand will continue to prove a challenge for
Europe’s steel industry despite forecasts that 2024 could mark the
start of a turnaround. - more
The nickel price crash and the road to recovery in Australia - Miners
in Australia are feeling the brunt of the global nickel price crash,
from mine closures to forecast reductions and government intervention.
- more
Courtesy AISI - In the week ending on April 20, 2024, domestic raw
steel production was 1,716,000 net tons while the capability
utilization rate was 77.3 percent. Production was 1,769,000 net tons in
the week ending April 20, 2023 while the capability utilization then
was 78.6 percent. - more
Other News
Military Spending Rises Fastest in Asia, Eastern Europe - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Friday's trading
session at $8.77/lb ($19,335/tonne). Indicators at 6:00 am CST today show
nickel trading around $.01/lb
lower. Stockpiles of nickel store din LME licensed warehouses jumped
sharply on Friday and ended the week just over the 74,900 tonne level.
Shanghai nickel rose to 143,080 y/t overnight, and we will be switching
to the June contract tomorrow, which stands at 143,580 y/t this
morning. Business media is reporting nickel is much higher this
morning, but we see little change from Friday's close. There was a big
jump on Friday, where we saw a near $800 tonne jump on one day, and
nickel is trading well into the $19,000 tonne range. So where is nickel
heading in the coming weeks? Stay tuned and we will learn that
together. One thing for sure. The EV battery industry is learning what
stainless steel producers have known for years. Nickel prices can be
very fickle. Stay safe out there and have a great week!
Average price of LME traded cash nickel
so far this month
- $8.06/lb
Reports
Reuters metals morning - Nickel at multi-month highs as talks of Chinese purchase fuel supply fears - more
Friday's market review - Nickel price hits
seven-month high on talk of Chinese government buying - Nickel prices
hit a seven-month high on Friday, driven by market talk of Chinese
plans to buy the metal for ... - more
Russian nickel ban an ‘upward driver’ of LME prices
- The US and UK governments have implemented sanctions that will
ban imports of nickel produced in Russia – more than two years after
the start of ... - more
Taiwan's stainless steel manufacturing cost increases -
LME nickel prices remained at a high level these days. Taiwanese
dollars also depreciated sharply against the US dollar, which pushed
the purchasing ... - more
New Caledonia to allow nickel exports to China, newspaper
reports - New Caledonia will remove restrictions on the sale of nickel
ore to China, according to a report in the Australian newspaper that
cited no sources. - more
New Caledonia’s nickel French 'pact' in limbo - more
Protests erupt in New Caledonia as France amends colony’s electoral system - pdf here
What New Metal Sanctions on Russia Mean for Global Trade -
No Russian nickel, aluminium and copper produced from 13 April onwards
will be eligible for delivery to the LME or the Chicago Mercantile
Exchange (CME). - more
China Vows to Act After U.S. Calls for Tariffs on Steel
Products - China slammed a U.S. plan to impose new restrictions on its
steel and aluminum products, saying it will take action to protect the
country’s interests. - more
Other News
Governments must broker local support for mines, industry group says - more
Are Americans Moving From Blue to Red States? - more
Distributors' Defense Against Inflation and Market Change - more
Joe Biden vows to block US Steel acquisition by a Japanese company and promises tariffs on Chinese steel - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Thursday's trading
session at $8.43/lb ($18,580/tonne). Indicators at 5:30 am CST today show
nickel trading around $.32/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Thursday and started today, just over the 73,750 tonne level. Shanghai
nickel rose to 140,900 y/t overnight. Nickel soared over the $19,000
tonne level early today and has shown little evidence of giving much
back in later trading. With nickel trading under $18,000 tonne just two
days ago, it is safe to claim that volatility continues to rule nickel
trading. The chart favors the bulls, and with the INSG signaling the
worldwide surplus of nickel continues to weaken, the bulls may
have plenty of pasture to graze in. Stay safe out there and have a
great weekend!
Average price of LME traded cash nickel
so far this month
- $8.01/lb
Thursday's market review - Copper rallies to
22-month high as inventories tighten, dollar slips - Copper prices
climbed to the highest levels in 22 months on Thursday as funds
extended their buying ... - more
Global nickel market in 12,100 T surplus in February -
INSG - The global nickel market had a surplus of 12,100 metric tons in
February, down from a surplus of 14,300 tons a year earlier, data from
the ... - more
Steven Brown’s Post - Here's a map of Indonesia's nickel
production centers, showing Ni production capacity including projects
in construction and credible projects in the planning stage. - more (if
you look just above the map you will see the words "...including projects
in operation..." - Mount Ruang is located about where the word "in" sits above the map -
Indonesia mountain erupts - more) Currently erupting volcanoes - more
Vale Partners with Three Chinese Companies to Build Nickel Smelters in Indonesia - more
Shares of Norilsk Nickel and Rusal fell amid soaring
prices for copper and aluminum - This contradictory behavior of
securities of Russian companies is to blame for new US sanctions
against Russian metallurgists. - more
Other News
China expresses support for Palestine's full UN membership ahead of Security Council vote - more
German industry may not recover from energy crisis - more
How U.S. County Poverty Rates Changed From 2013-2017 to 2018-2022 - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Wednesday's trading
session at $8.25/lb ($18,180/tonne). Indicators at 5:45 am CST today show
nickel trading around $.13/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and started today just under the 73,500 tonne level. Shanghai
nickel rose to 138,270 y/t overnight. Nickel ended higher yesterday,
helped in part by a strengthening Euro. It continues to trade higher
today, even though the Euro has paused its move higher. LME nickel
averaged $7.91/lb last month and so far this month, is averaging
$7.99/lb. If it maintains this average, the nickel average will have
moved higher every month of 2024. Stay safe out there and enjoy your
Thursday!
Average price of LME traded nickel
so far this month
- $7.99/lb
Reports
Reuters metals morning - Base metals rise as dollar rally pauses - more
Wednesday's market review - Copper climbs as dollar
slips; aluminium steady - Copper prices rose in London on Wednesday as
support from a weaker U.S. dollar offset concerns about demand from top
... - more
CRC prices in Asian markets gradually strong - The price
of cold-rolled stainless steel coil in the Asian market continues to
rise. The main factors that caused such a phenomenon include the
growing demand ... - more
BHP to decide fate of Western Australia nickel business by August -
BHP Group on Thursday said it expects to announce the fate of its
Western Australian nickel operations by August, while it trimmed ... - more
Glencore acts to profit from LME post-sanction rule change - Mining
and trading house Glencore, opens new tab aims to take thousands of
metric tons of Russian aluminium from the London Metal ... - more
Biden Calls for Tripling of Tariffs on Chinese Steel and
Aluminum - President Biden has called on the U.S. Trade Representative
to triple existing tariffs on steel and aluminum coming from China, to
22.5%. - more
US to Investigate China's Shipbuilding as Biden Calls for New Steel Tariffs - more
AISI Applauds Biden China Tariff Hike Announcement - more
EV growth shifts gear - Today, EVs are not an uncommon sight on
roads and parking lots in major markets thus making the idea of
sustainable transportation seem feasible. - more
Other News
Who's to Blame for the U.S. Fentanyl Crisis? - more
Manufacturing could be short 1.9M workers if the talent gap isn’t fixed - more
Amazon leapfrogs UPS, and 4 other takeaways from a top shipping index - more
China’s exports to Russia slump amid US threat of war sanctions - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Tuesday's trading
session at $8.07/lb ($17,790/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.09/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
sharply for a second day on Tuesday and started today just over the
73,550 tonne level. Shanghai nickel rose to 136,100 y/t overnight.
Nickel gave back nearly all of its Monday gains yesterday, showing the
confusion over what impact the new Russian sanctions might have on the
global supply. It's trading higher this morning, with the
psychologically important $18,000/tonne level being tested again. LME
nickel stockpile numbers have fallen over 4,000 tonnes from their peak
on March 22nd of 77,844 tonnes, although its too early to see a new
trend. Nearly 2,000 tonnes of that drop has been recorded in the last
two days, so we could be witnessing a knee jerk reaction to the new
sanctions. We are in uncharted waters here, and nickel is in much
better shape than copper or aluminum is, as we navigate. Stay safe out
there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $7.98/lb
Reports
Reuters metals morning - Base metals slip as strong dollar, demand concerns weigh - more
Tuesday's market
review - Commodities Overview:
Industrial metals take a break from bullishness - The prices of most
non-ferrous metals lost ground on Tuesday, under pressure from a firmer
US dollar... - more
Copper, nickel prices could benefit from Russian
metals
ban - analyst - The new US and UK sanctions on Russian metals should be
good for aluminum, copper and nickel producers, analysts at Jefferies
... - more
Asian nickel ore tightness seen easing in Q2 on potential Indonesian
supply gain - Asia's nickel ore supply tightness will likely ease in
the April-June quarter on potential ramp up in Indonesian output, after
... - more
Global Commodities excludes Russian nickel from
its new
trading platform - UK-based Global Commodities Holdings Ltd (GCHL) will
not accept nickel produced in Russia on its new spot trading platform
due .... - more
Russia is in close contact with metals industry after
sanctions, Kremlin says - The Kremlin on Wednesday said the Russian
government was in close contact with the metals industry and was
discussing ... - more
Half a million hectares of Indonesian forest under threat
from nickel mining, study finds - The race to electrify transport is
causing extensive deforestation in Indonesia, a Mighty Earth report
finds. - more
Nickel industry costs lives and livelihoods
in Indonesia’s last nomadic sea tribe - more
Other News
US to grow at double the rate of G7 peers this
year, says IMF - more
China's economy grew faster than expected in
the March quarter - more
Republican senator Tom Cotton calls for
vigilantism to break up Gaza protests - more
La Niña will make a comeback this summer as El
Niño finally fades - more
Economic Stats and
Prices (posted in
Friday edition)
Nickel closed Monday's trading
session at $8.23/lb ($18,140/tonne). Indicators at 5:50 am CST today show
nickel trading around $.14/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell
sharply on Monday and ended that session just over the 74,650 tonne
level. Shanghai nickel fell to 134,540 y/t overnight. Day one of the
Russia nickel sanction saw LME traded nickel jump nearly $600/tonne to
start the day, trade choppy during the day, and settle down late.
Bullish traders are having a serious problem holding onto the
$18,000/tonne level, regardless of bullish geopolitical news. Now
everyone is scrambling to figure out if these sanctions could tip the
world balance of nickel from the current surplus situation, to a
deficit. Time will tell. Stay safe out there and have a great Tuesday!
Average price of LME traded cash nickel
so far this month
- $7.98/lb
LME suspends new Russian metal deliveries after
sanctions: Andy Home - The London Metal Exchange (LME) has
suspended the warranting of Russian metal produced on or after April 13
to comply with ... - more
'No immediate supply-demand shock' from LME ban on Russian metals, Goldman says - more
Washington, London ban exchange trading of new Russian metal - more
EURANIMI Raises Alarm Over EU’s Cold Rolled Stainless
Steel Investigation - EURANIMI, a prominent advocate for importers in
the steel, stainless steel, and aluminum sectors, is sounding the alarm
regarding ... - more
New Caledonian pro-independence activist issues dire
warning to France - A pro-independence activist in New Caledonia is
warning France to immediately halt planned constitution amendments or
face "war".- more
(this lead up to an independence vote this fall is worth watching as SLN
operations are one of the most obvious 'and targeted' French properties
on the island)
Courtesy AISI - In the week ending on April 13, 2024, domestic raw
steel production was 1,726,000 net tons while the capability
utilization rate was 77.7 percent. Production was 1,769,000 net tons in
the week ending April 13, 2023 while the capability utilization then
was 78.6 percent. - more
Nickel closed Friday's trading
session at $8.06/lb ($17,770/tonne). Indicators
at 5:45 am CST today show
nickel trading around $.16/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose
slightly on Friday and started this week just under the 75,550 tonne
level. Shanghai nickel rose to 139,240 y/t overnight. Late Friday, the
U.S. and U.K. banned imports of Russian nickel, which the LME and CME
announced they would honor. This has something that has been threatened
ever since Russian invaded Ukraine, and the timing now is bewildering.
Whatever the reason for finally making the move, the decision will
obviously have a short term effect on nickel prices, and time will tell
how long term the effect might last. Busy news weekend thanks in part
to this announcement, so we leave you with a page full of news stories.
Stay safe out there and have great week.
Average price of LME traded cash nickel
so far this month
- $7.97/lb
Reports
Reuters metals morning - Metals Spike on LME After Russian Supply Hit by US, UK Sanctions - more
Growth optimism propels copper to 2022 peaks - Copper
prices jumped to their highest since June 2022 on Friday as investors
piled into the market on expectations of a demand upswing on the back
of ... - more
US, UK take action targeting Russian aluminum, copper and
nickel - Washington and London on Friday prohibited metal-trading
exchanges from accepting new aluminum, copper and nickel produced by
Russia ... - more
LME bans new Russian metal, but braces for a flood of old stock - more
CME bans Russian-origin aluminium after U.S., UK impose new sanctions - more
Metal Traders Get Ready for Fireworks After
LME Russia Ban - more
New Metals Sanctions Push Russia Further Into China's Embrace - more
What new metal sanctions on Russia mean for global trade - more
EU hikes tariffs on India, Indonesia stainless steel imports - The
European Union will increase tariffs on stainless steel products from
India and Indonesia after determining they benefited from unfair
subsidies.... - more
Eramet Earmarks $2 Billion for Nickel and Lithium
Expansion - French miner Eramet SA plans to invest €1.9 billion ($2
billion) in the 2024-26 period, largely to boost production of nickel
and lithium as it bets ... - more
Shyam Metalics and Energy Ltd Unveils Plans for
Stainless
Steel Flat Products Expansion - Shyam Metalics and Energy Ltd, a
prominent and rapidly expanding metals manufacturing company based in
India, ... - more
Thyssenkrupp to cut steel output in Germany by around 20%
- Germany’s largest steelmaker, ThyssenKrupp, has revealed plans to
reduce steel production by 1.5-2 million tonnes per year in the face of
... - more
China
steel exports hit highest since 2016 on weak local
demand - China’s steel exports posted the strongest month since 2016,
weeks after US Treasury Secretary Janet Yellen used the industry as an
example ... - more
Other News
Russia and China trade new copper disguised as scrap to skirt taxes, sanctions - more
EV battery production faces supply chain,
geopolitical headwinds - report - more
Understanding real, per capita personal
consumption expenditures - more
3 takeaways from the FTC’s probe into grocery
supply chains - more
Fastenal Q1 Sales Rise but Fall Short of
Forecasts - more
China’s Government: Natural Disasters Cost $3.3
Billion in First Quarter - more
Israel bombed an Iranian Embassy complex. Is
that allowed? - more
Iranian Forces Seize MSC Container ship Near
Strait of Hormuz - more
Economic Stats and
Prices (posted in
Friday edition)
Nickel closed Thursday's trading
session at $8.04/lb ($17,725/tonne). Indicators at 6:00 am CST today show
nickel trading around $.16/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Thursday and started just over the 75,500 tonne level this morning.
Shanghai nickel slipped to 138,250 y/t. LME traders have taken nickel
back above the $18,000 tonne level this morning, but this is in
jeopardy, as the Euro has fallen to levels not seen since mid November
2023 this morning. WSA reports stainless steel production increased by
4.6% worldwide last year. Slow news day. Stay safe out there and we
hope you have a relaxing - or exciting - weekend.
Average price of LME traded cash nickel
so far this month
- $7.96/lb
Reports
Reuters metals morning - Shanghai aluminium hits two-year high, set for 7th weekly gain - more
Thursday's market review - Copper dips on weak
Chinese data, firm dollar - Copper prices edged lower on Thursday on
weak consumer inflation data in top metals consumer China and a firm
dollar. - more
The world stainless association has released figures for
the full year of 2023 showing that stainless steel melt shop production
increased by 4.6% year–on–year to 58.4 million metric tons. - more
The customs clearance volume of refined nickel dropped
significantly in January-February - According to customs data, China
imported 6,841 mt of refined nickel (including unwrought non-alloy
nickel ... - more
China’s refined nickel output rose 1.22% MoM in March - more
Other News
Sibanye could cut 4,000 jobs as it restructures gold operations - more
Nickel closed Wednesday's trading
session at $8.38/lb ($18,465/tonne). Indicators at 5:45 am CST today show
nickel trading around $.13/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell for
a fifth consecutive session, and started today just over the 75,250
tonne level. Shanghai nickel slipped slightly overnight, to 139,610
y/t. Nickel
soared to trade over $18,900 tonne for a few moments yesterday, before
free falling to below $18,150/tonne over the next hour, and then
climbing
back to close higher for the day. The free fall was caused by an
unexpected jump in US inflation numbers in March, which immediately put
the
kibosh on a possible U.S. interest rate cut in May, which in turn
caused the Euro to nose dive against the U.S. Dollat. This sudden drop
in the Euro unnerved bullish traders, and nickel is even lower this
morning. The official price for 3 month nickel was $16,745/tonne on
April 1st. Yesterday, before the rout began, the official price for 3
month nickel was published at $18,800 / tonne. Six sessions and an
increase of over $2,000/tonne can be found in the dictionary as an
example of volatility. Stay safe out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.95/lb
Reports
Reuters metals morning - Copper trades in tight range as firmer dollar weighs - more
Eramet faces mine stoppage in latest New Caledonia snag -
French mining group Eramet faces a stoppage from Thursday at some of
the mines operated by its troubled New Caledonian nickel ... - more
Eramet reaches agreement to continue SLN's New Caledonia operations - more
China's March stainless steel output and April forecast -
According to SMM surveys, China's stainless steel output totalled
3.1781 million mt in March, up 21.87% MoM and 16.38% YoY. 200-series
output .... - more
Taiwan's stainless steel export market becomes strong,
but domestic market remains weak - The Taiwanese stainless steel
domestic market currently remains cold despite China and Taiwan's
export price increase. - more
New threat to importers of steel, stainless steel, and aluminium -
The Commission Implementing Regulation on circumvention of antidumping
and countervailing duties on cold rolled stainless steel (SSCR) from
... - more
Worldsteel predicts modest steel demand rebound in 2024-25
- Demand for steel worldwide will rebound by 1.7% in 2024 and will grow
a further 1.2% next year, worldsteel predicts in a new short-range ...
- more
Demand, Chinese exports pressure global longs market:
Irepas - While weak demand persists worldwide, “China’s aggressive
exports” are putting pressure on the global long steel market. - more
Nickel closed Tuesday's trading
session at $8.28/lb ($18,265/tonne). Indicators at 5:50 am CST today show
nickel trading around $.14/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today just under the 75,350 tonne later. Shanghai
nickel rose to 139,680 tonne overnight. Nickel continues its bullish
run which appears to be part and parcel of a much broader buying spree
among commodities. The Euro / Dollar spread is offering little
assistance, although short traders are being forced to cover again.
Fundamentals have not changed to cause a sudden switch in overall
sympathy, so putting a finger on a root cause for this run is like
playing whack a mole. Other base metals are trading at year highs,
while copper is at record highs, so there is a sudden desire to own
base metals among fund buyers. This is likely helping nickel prices to
rise. Buckle up, as we expect a bumpy rise ahead. Stay safe out there
and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.87/lb
Reports
Reuters metals morning - Aluminium hits 14-month peak on fund buying in buoyant market - more
Tuesday's market review - Copper firms on fund
buying despite rising inventories - Copper prices neared a 14-month
high on Tuesday on fund buying, despite rising inventories highlighting
ample supply. - more
Taiwan's stainless steel export market becomes strong,
but domestic market remains weak - The Taiwanese stainless steel
domestic market currently remains cold despite China and Taiwan's
export price increase. - more
U.S. exports and imports of Nickel - more // U.S. imports and exports of Stainless steel - more // use search bar at top of each linked page to search your SIC of interest
LME partner Metalshub files first monthly report of
low-carbon nickel - London Metal Exchange's partner Metalshub started
to publish its monthly report of low-carbon nickel transactions on
Tuesday as ... - more
Other News
Mercuria expected to hire Kostas Bintas in metals push, sources say - more
Nickel closed Monday's trading
session at $8.06/lb ($17,780/tonne). Indicators at 5:45 am CST today show
nickel trading around $.06/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
sharply on Monday and started today just over the 75,400 tonne level.
Shanghai nickel rose to 137,090 y/t overnight. Nickel is trading at the
$18,000 tonne level this morning, returning to a level it reached in
early March, only to lose it in mid-March. Stay safe out there and have
a great Tuesday!
Average price of LME traded cash nickel
so far this month
- $7.83/lb
Monday's market review - Copper hits 14-month high
with support from momentum funds - Copper prices in London hit their
highest in more than 14 months on Monday, helped by demand from ... - more
EU stainless coil prices rise - European contract prices
for stainless cold rolled coil are increasing following the hikes
implemented by steelmakers last month, sources tell Kallanish. - more
More than 25 manufacturers are interested in buying nickel from
Australian company Nickel Industries - According to foreign power news
on April 9, Justin Werner, CEO of Australian-listed Nickel
Industries... - more
London court backs Deripaska in battle of Russian tycoons
- Russian tycoon Oleg Deripaska got a boost on Wednesday in a
long-running battle for control of Norilsk Nickel when a high court
judge ... - more
Succession Drama Grips Commodity Trading's Billionaire
Factories - Trafigura Group has fired the starting gun on an era of
upheaval at the top of the commodity trading world, with some of the
biggest ... - more
Courtesy AISI - In the week ending on April 6, 2024, domestic raw
steel production was 1,745,000 net tons while the capability
utilization rate was 78.6 percent. Production was 1,762,000 net tons in
the week ending April 6, 2023 while the capability utilization then was
78.4 percent. - more
Other News
US says SK Battery faces $77,200 in fines over employee health hazards - more
Swiss women win landmark climate victory at human rights court - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Friday's trading
session at $8.08/lb ($17,770/tonne). Indicators at 5:45 am CST today show
nickel trading around $.04/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Friday and ended the week just under the 77,150 tonne level. Shanghai
nickel played catch up overnight, and rose to 136,620 y/t. Nickel bulls
appear to be determined to take nickel back to the 18,000 tonne level,
after falling below that level in mid-March and bouncing around the
16,650 tonne level just before Easter. This is evidence of a market
that has little more to trade on than speculation and anxiety. The
anxiety comes from over supply thanks to Indonesia, and less global
demand than earlier forecast. Stainless steel demand is either lower or
not growing as fast as before, depending on the country, and EV sales
are much the same in most areas. Markets do not like uncertainty, and
there is plenty of that floating around. Stay safe out there and have a
great week!
Average price of LME traded cash nickel
so far this month
- $7.78/lb
Reports
Reuters metals morning - London copper weighed down by Fed rate cut uncertainty - more
Friday's market review - Copper rally pauses,
downside risks start to build - Copper prices fell in London on Friday,
stepping away from a 14-month high hit in the previous session as the
market focused ... - more
Mining billionaire Andrew Forrest urges China to demand
greener nickel, FT reports - Australian mining magnate Andrew Forrest
has called on China to demand higher environmental standards from its
global... - more
EU’s ‘other-country’ HRC quota causes stir, Asia benefits
- The EU’s “other country” safeguard quota for hot rolled coil is
causing quite a stir lately. It has been exhausted in the second
quarter again within days... - more
In 2021, 86% of US car buyers polled by S & P Global Mobility
said they would consider buying an EV. Only 67% said they would in
2023. At least in the U.S., enthusiasm for EV's is waning and sales are
down in 2024. Dealers reports inventory stands over a 100 day supply
and Tesla has reportedly cut its price multiple times in the last year
in an attempt to boost sales.
Other News
Top Trafigura executives retire as new generation steps up - more
John Goodenough, Nobel laureate and battery pioneer, dies at 100 - more
Solar Eclipses to Hit Major U.S. Metros Within the Century - more
FMC Investigation Calls for MSC to Pay $63M for Shipping Act Violations - more
Fabricators might get a win related to federal infrastructure projects - more
EU sees hope for US minerals deal from new forced labour law - more
Used Electric Car Prices & Market Report - Q2 2024 - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Thursday's trading
session at $8.02/lb ($17,670/tonne). Indicators at 6:10 am CST today show
nickel trading around $.02/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
yesterday, by the exact amount they rose the prior day, and levels
returned to just over the 77,600 tonne level. Shanghai market remain
closed and will return on Monday. The Euro is slipping a little this
morning, but nickel traders refuse to retreat.... so far. Lot of news
to end the week so we leave you with it. Stay safe out there and have a
relaxing weekend!
Average price of LME traded cash nickel
so far this month
- $7.73/lb
Reports
Reuters metals morning - Most base metals fall as fund managers square positions - more
Thursday's market review - Copper hits 14-month high
on fund buying and softer dollar - Copper prices hit their highest in
more than 14 months on Thursday, helped by fund buying after the U.S.
... - more
Monsters of Rock: Another forecaster takes a dump on
nickel - It gets no brighter for nickel, with another forecaster
cutting its outlook for 2024 in the face of an Indonesian supply glut.
- more
EU stainless supply issues continue as strikes persist -
Stainless steel supply issues caused by ongoing industrial action
continues to dominate market discussions in Europe, despite having only
a limited... - more
Brazilian court suspends Vale’s Onca Puma mine operating
license again - A local court has again suspended the operating license
for Brazilian miner Vale’s Onca Puma nickel mine in the north of the
country... - more
Kishida, Biden, Marcos to agree to bolster nickel supply chain -
Japan, the United States and the Philippines will cooperate in
strengthening the supply chain for precious metals such as nickel, a
key element ... - more
China steel bar producers call for authorities to
restrict output amid price slump - Fifteen of China's major steel bar
producers have unanimously called on authorities for measures to
restrict steel bar output ... - more
Nornickel completes stock split - Russian mining giant
Norilsk Nickel on Thursday said it had completed a stock split,
converting each share into 100 and meaning the total number of ordinary
shares now .... - more
Magnetic Permeability of Stainless Steel - A magnet is
not the best method to test for stainless steel. It is commonly thought
that stainless steel is non-magnetic, but this is not strictly true and
the real ... - more
Other News
Tesla Suffers First Y-o-Y Drop in Deliveries Since Covid - more
Busy Shipping Lane off Denmark Closed Due to Malfunctioning Harpoon Missile - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Wednesday's trading
session at $7.87/lb ($17,360/tonne). Indicators at 5:400 am CST today show
nickel trading around $.06/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Wednesday and started today just under the 77,750 tonne level. Shanghai
markets were closed overnight and remain closed for the rest of the
week as that country celebrates the Ching Ming Festival.Nickel jumped
yesterday, thanks mainly to a Euro that jumped sharply against the U.S.
Dollar, and that trend continues this morning. According
to The Commodities Pink Sheet published by the World Bank, nickel
averaged $18,465/tonne ($8.38/lb) in 2021, $25,834/tonne ($11.72/lb) in
2022, and $21,521/tonne ($9.76/lb) in 2023. It also reports nickel
averaged $16,104/tonne ($7.30/lb) in January, $16,338/tonne ($7.41/lb)
in February, and $17,439/tonne ($7.91/lb) in March (source). Stay safe out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.68/lb
Reports
Reuters metals morning - Copper hits 14-month high on rate cut hopes and soft dollar - more
Wednesday's market review - Copper nears two-week
high on healthy demand outlook - Copper prices rose on Wednesday to
their highest in nearly two weeks, driven by a healthy demand outlook
on the .... - more
Global molybdenum production and use rises in 2023 -
Global production of molybdenum was at 627.4 million pounds (mlbs) in
2023, a rise of 9% from 577.8 mlbs in 2022, figures released by the
International ... - more
EU, US seek broader reach on critical minerals as own deal
stalls - The European Union and the United States will fail to
reach a critical minerals agreement at a meeting of top officials this
week, but will launch ... - more
With wary eye, China courts Indonesia's incoming leader
Prabowo - Soon after Indonesia's incoming leader Prabowo Subianto won
the February presidential election, the Chinese embassy in Jakarta sent
... - more
Mining for EV Metals Threatens Gorillas and Chimpanzees in
Africa - A third of Africa’s great ape population is under threat from
mines producing copper, lithium, nickel or cobalt - more
Other News
Taiwan quake to hit some chip output, disrupt supply chain, analysts say - more
(March
20) Today the Senate unanimously passed Senator Braun’s resolution to
recognize the national debt as a threat to national security. - more
Chinese Lenders Raise Concerns About $1.3 Billion Peru Port Deal - more
More complex trade-offs are necessary to maintain a high-performing supply chain - more
Economic Stats and Prices (posted in Friday edition)
Nickel closed Tuesday's trading
session at $7.72/lb ($17,020/tonne). Indicators at 5:40 am CST today show
nickel trading around $.01/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today just over the 77,600 tonne level. Shanghai
nickel rose to 133,450 y/t overnight. Nickel is quiet this morning,
with the market looking to the $17,000 tonne level as a level to trade
around, however temporary. Your
stainless steel raw material average costs for March compared to
February are as follows - Nickel -
$7.90/lb compared to $7.39/lb in February / Chrome - $5.04/lb unchanged
from February / Molybdenum - $20.70/lb compared to $20.23/lb in
February. Stay safe out there and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $7.71/lb
Reports
Reuters metals morning - Copper trends higher on bullish demand outlook - more
Shanghai exchange to work on nickel futures
internationalization - The Shanghai Futures Exchange (ShFE) will
explore a nickel futures internationalization plan, an exchange
official told an industry gathering.... - more
Uncertainties to impact stainless market in 2024: Aperam
- Uncertainties in the stainless steel market recovery will persist in
2024 and beyond, Aperam’s CEO Timoteo Di Maulo says in the company’s
.... - more
China’s steel sector PMI down to 44.2 percent in March -
In March this year, the purchasing managers index (PMI) for the Chinese
steel sector was at 44.2 percent, 1.8 percentage points lower than that
... - more
Indonesia nickel concerns stoked by corruption and land disputes -
Corruption and land disputes are quickly becoming a major concern in
Indonesia's nickel sector, as local players grow increasingly
aggressive ... - more
Energy trader Vitol expands further into metals with new
hires - The world's top energy trader Vitol has poached Benjamin
Seaford and William Gayner from rival Mercuria to trade metals, in a
move that ... - more
Former Vitol oil trader convicted of Ecuador, Mexico corruption charges - more
Other News
Grainger, Airgas, Fastenal Among ‘Most Trustworthy’ Companies - more
ISM reports manufacturing sees growth in March, snaps 16-month stretch of contraction - more
UPS wins US Postal Service air cargo contract, usurping FedEx - more
Nickel closed Monday's trading
session untraded, but closed its last trading session $7.61/lb ($16,770/tonne). Indicators
at 5:40 am CST today show
nickel trading around $.10/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose
last Thursday and started this month,just under the 77,800 tonne level.
Shanghai nickel rose to 132,590 y/t overnight. Traders have the $17,000
tonne level in their sights this morning, returning from their four day
weekend in a buying mood. Stay safe out there and have a great day!
Average price of LME traded cash nickel
so far this month
-
Reports
Reuters metals morning - Copper lifted by
supply concerns, better demand prospects - more
Vale Indonesia targets 2024 output of about 70,800 metric
tons nickel in matte - Nickel miner PT Vale Indonesia INCO.JK is aiming
for output this year of about 70,800 metric tons of nickel in matte, an
official ... - more
Indonesia to Trace Nickel in Bid for US
Critical Minerals Deal - more
Infographic: Indonesian projects to boost nickel supply -
Indonesia emerged in the energy transition space as a key player after
imposing an export ban on unprocessed nickel ore in 2020, attracting
critical ... - more
There's a new force sweeping through the global mining sector
— and it has huge firepower - Hungry to diversify beyond fossil fuels,
Gulf nations are investing in the resources needed to produce clean
energy - more
Courtesy AISI - In the week ending on March 30, 2024,
domestic raw steel production was 1,722,000 net tons while the
capability utilization rate was 77.5 percent. Production was 1,718,000
net tons in the week ending March 30, 2023 while the capability
utilization then was 76.9 percent. - more
Other News
New Indonesia leader visits China, promises
close ties - more
Israeli air strike on Gaza kills seven working
for food aid NGO - more
Economic Stats and
Prices (posted in
Friday edition)
Nickel closed Thursday's trading
session at $7.61/lb
($16,770/tonne) and has been
closed since. Indicators at 5:45 am CST today show
nickel is waiting for markets to reopen tomorrow. Stockpiles of nickel
stored in LME licensed warehouses rose last Thursday and ended the
month of March just under the 77,150 tonne level. Records show nickel
stockpiles ended the prior month at 72,630 tonnes, showing a gain for
the month of March. Shanghai nickel fell to 130,410 on Friday and rose
to 131,600 y/t overnight. The LME remains closed for the Easter holiday
today and will return tomorrow. An excerpt from the article on
Indonesia below "“We don’t see any reason why we should not expand
production of nickel for battery materials,” Mr Seto told the Financial
Times. “What we want to achieve is price equilibrium. The
responsibility for us as the biggest nickel producer is to supply
enough nickel so that the EV [electric vehicle] transition can progress
smoothly.” Price equilibrium would be something long term users of
nickel
have sought for many, many years, but as long as the metal price
remains set by traders on metal exchanges, that will remain more of a
desire, and hardly reality. LME traders will not like this news, but
how they will react remains to be seen. They may send Indonesia a shot
across the bow, or they may pretend its more smoke than fire. Its the
start of the second quarter of 2024. Stay safe out there and have a
great week!
Average price of LME traded cash nickel
so far this month
- $7.91/lb (average March)
Yesterday's market
review - Copper holds steady in
cautious trade - Copper prices held steady in London on Thursday
against a backdrop of dollar strength and uncertain demand prospects in
top ... - more
Indonesia vows to speed up nickel output despite global
glut - Indonesia will press on with plans to expand nickel output
despite a supply glut that is forcing rivals to shut down mines, as the
world’s top producer ... - more
Yieh Hsing hikes stainless steel wire rod prices for Apr
- Yieh Hsing Enterprise Co., Ltd., one of the major wire rod
manufacturers in Taiwan, raised the price for stainless steel wire rods
for February ... - more
Tang Eng maintains negotiation way for Apr
stainless steel offers - more
Political strikes in Finland to continue, Outokumpu
adjusts EBITDA - The majority of Outokumpu’s stainless steel and
ferrochrome operations as well as the Tornio port have been shut down
since the ... - more
Trading activity in the European ferroalloy market remains
slow - Buyers are putting pressure on ferrochrome prices, while
enquiries for ferrosilicon were few and far between - more
Centaurus' Jaguar Ni mine in Brazil eyes 2027 output -
Australian mining company Centaurus Metals said that its Jaguar nickel
sulphide project in Brazil is undergoing a feasibility study and aims
to start production... - more
Russia's Nornickel: Some EU clients refuse to buy products
made of Russian metal - Russia's Nornickel, the world's largest
palladium producer and a major producer of high-grade nickel, said on
Friday that ... - more
The
War troubles Nornickel as it struggles to shift to new markets - more
Trafigura Pleads Guilty and Will Pay $126M to Settle
Brazilian Bribery Case - International commodities trading company
Trafigura resolved a long-standing investigation with the U.S.
Department of Justice... - more
Other News
India dives into deep sea mining as it battles for a clean future - more
Baltimore port crisis: World’s largest
container ship company, MSC, dumps diverted cargo problem on US
companies - more
Port of Baltimore May Not Reopen Until Summer -
more
In Indonesia, deforestation is intensifying
disasters from severe weather and climate change - more
Focus: Would-be Tesla buyers snub company as Musk's reputation dips - more
Economic Stats and
Prices (posted in
Friday edition)
(all
ton listings are metric tons = 2204.622 pounds ) Updated Monday thru
Thursday before 7 am CST, Friday version before 8 am CST - DisclaimerOriginal 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.
Daily Nickel/Stainless Steel Briefing 
($19,220/tonne). Indicators at 5:40 am CST today show
nickel trading 
unchanged. Stockpiles of nickel stored in LME licensed warehouses also
went unchanged on Monday and remain just under the 78,600 tonne level.
Shanghai nickel rose to 143,140 y/t overnight. A reminder.... Shanghai
markets will be closed for the remainder of this week for their Labour
Day holiday. As we end another month, we want to thank our site sponsor
for their continued support. If you haven't
visited their website yet, or its been awhile since you have, we invite
you to visit 
Reports
Shanghai Metals Market
London Metals Market
First Quantum to shut down Ravensthorpe nickel mine -
Canadian miner First Quantum Minerals has decided to shut down its
Ravensthorpe nickel operation in Western Australia. - 
Steel market outlook deteriorates further in aftermath of
worse-than-expected recession - The outlook for the European steel
market in 2024 continues to lose momentum amidst persisting challenging
conditions. - 
Volgograd region becoming large stainless steel
distribution center - According to reports, the 10th International
Conference on "Stainless Steel and the Russian Market" was held in
Volgograd, Russia. - 
Other News
Слава Україні! - 
($19,255/tonne). Indicators at 5:45 am CST today show
nickel trading around $.02/lb 
Yusco rises
stainless steel export prices for May - Yieh
United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan,
has announced its stainless steel price list in the domestic market for
May, ... - 
New Caledonia's pro-French party gets first Kanak
President - (excerpt) He also has a good knowledge of the nickel
industry (he worked for French Société le Nickel company and is still
an advisor to ... - 
Acerinox reports a significant reduction in debt and an increase in
EBITDA in the first quarter of 2024 - (excerpt) Acerinox announced on
February 5 the signing of an agreement under which its wholly owned US
subsidiary, North American Stainless, will acquire Haynes
International, a US leading developer, manufacturer, and marketer of
technologically advanced high-performance alloys. - 
Five Eyes countries working to fight critical minerals
dumping, Canada minister says - Canada and its Five Eyes Alliance
partners are working on put forward a response to tackle the price
manipulation of critical ... - 
Battery Recycling Shatters the Myth of Electric-Vehicle Waste - Are
electric cars really that much better for the environment? With
recycling, the question is a no-brainer. - 
Merafe Resources’ ferrochrome output falls in Q1 - South
Africa-based ferrochrome producer Merafe Resources has announced its
production results for the first quarter of the current year.
Accordingly .... - 
Glencore acts to profit from LME post-sanction rule change - Mining
and trading house Glencore, opens new tab aims to take thousands of
metric tons of Russian aluminium from the London Metal ... - 
Copper, nickel prices could benefit from Russian
metals
ban - analyst - The new US and UK sanctions on Russian metals should be
good for aluminum, copper and nickel producers, analysts at Jefferies
... - 
Eramet Earmarks $2 Billion for Nickel and Lithium
Expansion - French miner Eramet SA plans to invest €1.9 billion ($2
billion) in the 2024-26 period, largely to boost production of nickel
and lithium as it bets ... - 
Shyam Metalics and Energy Ltd Unveils Plans for
Stainless
Steel Flat Products Expansion - Shyam Metalics and Energy Ltd, a
prominent and rapidly expanding metals manufacturing company based in
India, ... - 
Brazilian court suspends Vale’s Onca Puma mine operating
license again - A local court has again suspended the operating license
for Brazilian miner Vale’s Onca Puma nickel mine in the north of the
country... - 
Uncertainties to impact stainless market in 2024: Aperam
- Uncertainties in the stainless steel market recovery will persist in
2024 and beyond, Aperam’s CEO Timoteo Di Maulo says in the company’s
.... - 
There's a new force sweeping through the global mining sector
— and it has huge firepower - Hungry to diversify beyond fossil fuels,
Gulf nations are investing in the resources needed to produce clean
energy - 
Political strikes in Finland to continue, Outokumpu
adjusts EBITDA - The majority of Outokumpu’s stainless steel and
ferrochrome operations as well as the Tornio port have been shut down
since the ... - 
