This page is archived news covering the period of August 2019
If you are looking for current daily market news, please visit here.


Stainless Steel News and Nickel Prices

Free comprehensive information on worldwide nickel market pricing, stainless steel prices and metals analysis and forecasts

Our website is made possible by displaying online advertisements to our visitors.
Please consider supporting us by disabling your ad blocker.






Friday, August 30
  Abridged Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed yesterday's trading session at $7.46/lb (16,455/tonne). Indicators at 7:25 am CST today show nickel trading around $.57/lb  higher. Stockpiles of nickel stored in LME licensed warehouses jumped as well on Thursday and now total just under the 152,500 tonne level. As you can probably imagine by the new five year record high price, the Indonesia rumor is now confirmed. According to the SMM website, Indonesia's Ministry of Energy and Mineral Resources announced that nickel ore containing less than 1.7% nickel will no longer be allowed to be exported from Indonesia effective the last day of 2019 (source). It could be argued that this verdict had pretty much been priced into the market, but with the Papau spill putting the future of that mine into peril, traders appear to have momentarily lost their minds. When you step back from these bull runs, you see they quickly become less about the fundamentals, ie the facts of supply and demand, and more about 'gettin' while the gettin's is good'. Computers and algorithms run by large firms are now in control and the little guy can play along and make some money, or get burnt badly. Stainless steel producers and users are waking up this morning with their heads in the hands. This means their prices will continue to rise well into fall ... at the very least. Budgets are blown for the remainder of the calendar year. A three day Labor Day holiday begins this afternoon in the US, so our next update will be on Tuesday. Have a safe and relaxing weekend and we will see if the market has regained its composure by next week. Thank you for spending some of August with us and we will hopefully see you in September.
  • Average price of LME traded cash nickel so far this month - $7.06/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Nickel jumps as waste spill sparks supply fears - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • Scotiabank Monthly Metals report - pdf here
  • The Commodities Feed: The nickel squeeze - more
  • In the scrap metals business, replacing China is tough - more
  • China is blunting the blows of Trump's trade war and just grabbed an even bigger share of global exports - more

     Yesterday's market review - Nickel gains as waste spill highlights supply worries - Nickel prices rose on Thursday after a waste spill threatened to close a processing plant in Papua New Guinea, adding to fears of supply shortages. - more

      Nickel price forecast revised up as speculative rally boosts tight market — report - Analysts at Fitch Solutions are revising up their nickel price forecast for 2019 to $13,550/tonne from an average of $13,250/tonne previously, as prices have experienced a strong speculative rally over July and August.  - more

      US Steel Prices Rebound in August - US flat product steelmakers are bucking the seasonal price trend, by pressing for a rise in local values, despite the summer lull in activity. - more

       Indonesia to Lose European Commission Safeguard Exemption - The European Commission recently completed its review of the safeguard measures, which were introduced to prevent the redirection of material previously destined for the United States. - more

      Taiwan extends AD tariff on Chinese & South Korean CR stainless steel for 5 years - According to the news from the Ministry of Finance, R.O.C. (Taiwan), the Taiwanese government decided to levy an anti-dumping tariff on 300 series cold-rolled stainless steel products from China and South Korea for the next 5 years. - more

Thursday, August 29
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Wednesday's trading session at $7.30/lb ($16,090/tonne). Indicators at 6:15 am CST today show nickel trading around $.03/lb  higher. Stockpiles of nickel stored  LME licensed warehouses rose yet again on Wednesday and started today just over the 150,700 tonne level.  It appears for the second time this summer , inventory numbers will grow during the month. Cancelled warrants have spent the last week and a half in the 25% range, but jumped to near 29% yesterday, implying someone is buying. But who? Is it an end user who is gearing up for September, or a trading house gambling that they can stoke a bigger price rally with their purchases? We suspect the news from Papau New Guinea and the spill there, which has been followed by calls to shut down the mine, coming on the back of threats by the Indonesia president to accelerate the ban on shipping nickel ore, compounded by a missing ship of ore from Indonesia, have created a witches brew of uncertainty that markets hate, but profit from. Nickel jumped back over the $16,000/tonne level yesterday, and has settled down and is trading around the $7.33/lb level today.  With Monday being a holiday here in the States, we will post an abridged update tomorrow, with our next update being the following Tuesday. Tomorrow's update will be posted about an hour later than typical. Until then...
  • Average price of LME traded cash nickel so far this month - $7.05/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Nickel rises on signs of near-term tight supply - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • Australian Mining Review September - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China Indicates It Won’t Retaliate Now on New U.S. Tariffs - more
  • Even Trump-Loyal Steelmakers Flummoxed by Trade-Policy Flux - more
  • Europe Stocks, U.S. Futures Jump on Trade Optimism: Markets Wrap - more

     Wednesday's market review - Nickel touches one-week high on Indonesia worries, inventories - Nickel prices hit their highest in a week on Wednesday as speculators bought on fears of shortages from major producer Indonesia, while at least half of London Metal Exchange inventories were under the control of one party. - more

      Steel remains key to medium-term nickel price with electric vehicles on horizon - The price of nickel has soared more than 50% since the start of 2019, topping US$16,000 per tonne in early August before settling at US$15,750/t on Aug. 21 against a backdrop of rising electric vehicle demand and supply concerns. - more

      Yusco increases stainless steel price for Sep - On August 29th, Yusco, the largest stainless steel manufacturer in Taiwan, announced to increase its stainless steel price for September, the same as the expectation from the market. - more

      Mining giant looks to wind and solar to power huge nickel project - Australian mining giant Oz Minerals says it is looking at use wind and solar to provide the bulk of the power needs for a giant new nickel project in a remote part of central Australia near the border of South Australia and West Australia, some 800kms west of Uluru. - more

       Rai Coast MP Calls for closure of PNG's Ramu Nickel Mine - Member for Rai-Coast in Madang Province Peter Sapia is calling for the immediate closure of the Ramu Nickel Mine's Basamuk refinery. - more

  • Papua New Guinea may shut Chinese-owned nickel plant after spill - more
      Landowners Convert Mine Royalty Into Business Opportunities - A landowner group from Kurumbukari in the Usino-Bundi district, host of the Ramu nickel-cobalt mine in Madang are investing their mine royalty for the future. - more

      Voisey's Bay underground development hits 10% completion - The quest to mine nickel from beneath the ground at Voisey's Bay in Labrador is picking up steam with more than 430 workers on site. - more

       Superconductivity in a nickel oxide material - Scientists at the US Department of Energy's SLAC National Accelerator Laboratory and Stanford University have made the first nickel oxide material that shows clear signs of superconductivity - the ability to transmit electrical current with no loss. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Wednesday, August 28
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $7.12/lb ($15,700/tonne). Indicators at 6:15 am CST today show nickel trading around $.10/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Tuesday and started today just over the 150,500 tonne level. Busy news day today, but noting to really explain the jump in prices this morning. Yesterday started with a similar bounce, as bulls try to pull the price closer to the $16,000/tonne level. Yesterdays attempt was less than successful, as closing prices have stayed in a narrow band since last Wednesday. Three trading days left in August, and nickel remains one of the success stories in otherwise shaky trading markets. Downstream users are paying the price for this success, but miners are reaping the benefits. Are we in the beginning stages to a bull market that could last for years? Or is this just another price spike in an otherwise bearish market? We would love to tell you, but we have no idea where the market will close today, so stay tuned and we will find out together.
  • Average price of LME traded cash nickel so far this month - $7.03/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper prices ease amid global economic uncertainties - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - not posted
  • Reuters The Day Ahead - pdf here
  • National Economic Indicators - pdf here
  • July 2019 crude steel production - more
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Amazon warehouse data shows tariffs hit US vendors harder - more
  • China could become world's largest importer within five years: Report - more
  • Expect The Resiliency Of Base Metals' Fundamentals Despite Macro Negativity To Push DBB Higher In H2 2019 - more
  • Stocks Mixed Under Cloud of Trade Feud; Oil Gains: Markets Wrap - more
  • Positive Indian Ocean Dipole pattern continues - more

     Tuesday's market review - Copper steadies but demand doubts keep prices near two-year lows - Copper prices steadied on Tuesday but remained near two-year lows on worries about damage to industrial activity and demand from the prolonged U.S.-China trade war. - more

      New projects for battery material nickel need a price spur - Rapidly rising use of nickel in the batteries that power electric vehicles over coming years means higher prices are needed to incentivize the development of new projects to boost supplies of the metal. - more

      (translated)  Indonesian official Luhut explains why Indonesia wants to ban mines in advance  - According to CNBC, the Indonesian government plans to speed up the ban on nickel ore exports, which will take effect in 2022. - more

      Indonesia's Export of Stainless Steel Semi-products in June 2019 - = Ingot is 17,000 tons and flat roll is 143,000 tons = Indonesia's foreign trade statistics shows the export volume of stainless steel semi-products in June 2019 was 17,312 tons of ingot (slab/HS: 7218), drastically down by 41.8% from the prior month. - more

      Gov’t wants mining firms to pay higher fees for mine wastes - The Mines and Geosciences Bureau (MGB) is planning to require all mining companies in the country to pay higher mine waste and tailing fees as part of the amendments in the Implementing Rules and Regulations (IRR) of the Philippine Mining Act or the Republic Act (RA) 7942 the agency is now pushing for. - more

      Taiwanese stainless steel mills disapprove government to levy AD & CVD duty on Chinese HR stainless steel - On June 14th, the Taiwanese government made an initial ruling that the imports of hot-rolled stainless steel from China might bring substantial damage to Taiwanese market, and the Taiwanese Ministry of Finance made a quick response on July 5th that those imported stainless steel from China needed to be levied an anti-dumping duty and countervailing tariff by 26.38% to 32.58%, and 43.86 respectively. - more

      Rickford Brings Update on Ferrochrome Plant to The Sault - Ontario’s Minister of Energy, Northern Development and Mines Greg Rickford was in Sault Ste. Marie on Tuesday to discuss updates on the Ring of Fire project, set to start production in 2025, with the completion of the ferrochrome plant set for 2028. - more

      DMCI Mining nickel ore shipments up 41% in H1 - DMCI Mining Corp., a unit of publicly listed DMCI Holdings Inc., on Tuesday said its shipment of nickel ore grew 41 percent during the first half of the year, even though the company has not been able to mine all of its sites. - more

      Ontario eyes pragmatic approach to Ring of Fire - The Ontario government is prepared to take “a more pragmatic approach” to unlocking the mineral wealth that is waiting to be mined at the Ring of Fire region of northern Ontario. - more

  • Ontario rips up Ring of Fire deal with First Nations to pursue bilateral talks - more

      Vale Keen to Meet Jokowi to Push for Divestment Decision - Jakarta. Vale Indonesia, the country's largest nickel producer, said they were looking forward to a meeting between President Joko "Jokowi" Widodo and the top executive from its Brazilian parent company Vale to discuss the divestment of the company's shares to a local entity. - more

      Courtesy AISI - In the week ending on August 24, 2019, domestic raw steel production was 1,877,000 net tons while the capability utilization rate was 80.6 percent. Production was 1,861,000 net tons in the week ending August 24, 2018 while the capability utilization then was 79.4 percent. The current week production represents a 0.9 percent increase from the same period in the previous year. Production for the week ending August 24, 2019 is up 1.1 percent from the previous week ending August 17, 2019 when production was 1,857,000 net tons and the rate of capability utilization was 79.8 percent. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Tuesday, August 27
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $7.10/lb ($15,660/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Friday and start the final week of August just over the 150,400 tonne level. Market seems to be having a problem keeping stockpile numbers below the 150,000 tonne level, and prices above the $16,00.tonne level.  With London markets closed on Monday, LME markets might as well have closed on Friday as well. Official and closing prices were nearly identical to Thursday.  It appears another cargo ship carrying nickel ore from Indonesia has gone down with 25 crew members aboard. Intercargo reports that of the 9 bulk carrier sinkings in the last decade, six of them have been carrying nickel ore from Indonesia. In light of the recent reports that President Joko might be looking for a reason to move up the export ban from 2022, the timing of this accident might have just given him a 'humanitarian' reason to make such a change. Some trading houses may be thinking the same thing this morning, as nickel prices are higher after an early morning bump. While  England celebrated its unofficial 'end of summer' holiday yesterday, the US will celebrate its end on this coming Monday with the Labor Day holiday. In the mean time, interesting industry news is hard to find. It's the last week of August, and we wish you a week of individual success.
  • Average price of LME traded cash nickel so far this month - $7.02/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Nickel on track to close above tin for the 1st time in 9 yrs - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Reuters The Day Ahead - pdf here
  • Nickel Magazine Vol.34, No.2, 2019 - pdf here
  •  Trade fears & market moves - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Trump Asserts He Can Force U.S. Companies to Leave China - more
  • China Announces $75 Billion in Additional Retaliatory Tariffs - more
  • Trump Says He Will Raise Existing Tariffs on Chinese Goods to 30% - more
  • Trump regrets not raising tariffs on China higher, White House says - more
  • Stocks, U.S. Futures Drift as Trade Mood Shifts: Markets Wrap - more

     Friday's market review - Copper falls to lowest since June 2017 as trade war escalates - Copper prices fell to the lowest in more than two years as an escalating trade conflict between China and the United States, faltering Chinese economic growth and a weakening yuan undermined the outlook for demand. - more

      Bulk Carrier Disappears off Indonesia - A bulk carrier is feared capsized after her crew reportedly sent a distress call on Sunday. - more
  • 25 feared dead as Indonesian bulker carrying nickel ore disappears - more
      Anger over spillage from nickel plant into PNG's Basamuk Bay - The governor of Madang, Peter Yama, says a slurry spillage from the Ramu nickel mine is the worst environmental disaster in Papua New Guinea. - more

      China imported some 1.36 million mt of chromite (chrome ore) in July, up 2.1% from June but down 0.99% from July 2018, according to the latest data from China Customs. - more

      Visa Steel shuts down plant in Odisha's Jajpur - Visa Steel shut down its 1.5 million tonne integrated steel plant at Kalinga Nagar on Friday. - more

      Stainless Steel Pdf Library Week Four

  • The Atlas Steels Technical Handbook of Stainless Steels - pdf here
  • G.L. Huyett Engineering Handbook - pdf here
  • NASA Materials Data Handbook - pdf here

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Friday, August 23

   LME markets are closed Monday, August 26th for Bank Holiday.

  Abbreviated Friday Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)

  • Nickel closed Thursday's trading session at $7.10/lb ($15,660/tonne). Indicators at 7:25 am CST today show nickel trading around $.02/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose by the same amount they fell the prior day and started today just over the 150,000 tonne level again. Markets remain subdued and drifting. The Federal Reserve Bank of Kansas City’s annual Economic Symposium started yesterday in Jackson Hole, Wyoming and is getting much of the financial world's attention. England is preparing for a three day weekend and trading is subdued there. Not much to report today so we hope to see you Tuesday.
  • Average price of LME traded cash nickel so far this month - $7.01/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Trade hopes boost copper but demand outlook still sluggish - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • ING - Where is Chinese industrial metals demand heading - more
  • Reuters The Day Ahead - pdf here

     Thursday's market review - Industrial metals fall as trade war hammers China's yuan - Copper and other industrial metals prices fell on Thursday as the United States and China exchanged threats in their trade dispute and the yuan slumped to an 11-year low against the dollar. - more

      Indonesian association of nickel miners continues to press the government to comply with the 2022 export ban timetable -  Indonesian nickel miners association (APNI) said Thursday that it will continue to ask the government to comply with the 2022 nickel mine export ban timetable. - more

      Clive Palmer's bid to end Queensland Nickel trial rejected - Clive Palmer has failed in his bid to shut down the Queensland Nickel collapse trial amid a dispute over the likely profits sought by liquidators on behalf of their corporate backers. - more

      Certain Corrosion-Resistant Steel Products From Taiwan: Initiation of Anti-Circumvention Inquiry on the Antidumping Duty Order - more

  • Corrosion-Resistant Steel Products From the People’s Republic of China: Initiation of Anti-Circumvention Inquiries on the Antidumping Duty and Countervailing Duty Orders - more

Thursday, August 22
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Wednesday's trading session at $7.14/lb ($15,730/tonne). Indicators at 6:15 am CST today show nickel trading around $.04/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell for the first time in the last eight sessions, and started today's session just over the 149,800 tonne level. With no further news from Indonesia, the nickel market continues to drift lower. Support appears to be at $15,600 tonne this morning, but its too early to tell if that's real, or sentimental. Twin Metals signed an agreement with a local Minnesota construction union yesterday, and apparently in an attempt to stick a thumb in the eye of the environmentalists who have been fighting the future mine, made a rather big deal about it. Been a rather quiet week, with nickel drifting slowly lower. Surcharges for September are out and they jumped as expected (here). This is our final update for the week so we wish each of you a safe and relaxing weekend. Since LME markets are closed on Monday, our next planned update will be on Tuesday.
  • Average price of LME traded cash nickel so far this month - $7.01/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Base metals decline as Fed minutes temper rate-cut hopes - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Bank Indonesia surprises with second rate cut in two months - more
  • RIP Gina Lopez — Environmentalist, Activist, And Yogi Dead At 65 - more
  • Tiny tin market sounds a recessionary warning note: Andy Home - more
  • Stocks Slip With U.S. Futures; Treasuries Advance: Markets Wrap - more

     Wednesday's market review - Copper prices firm ahead of Fed minutes - Copper prices edged higher on Wednesday ahead of U.S. Federal Reserve meeting minutes expected to shed light on actions to counter slow growth even as the U.S.-China trade war continues to pose a threat to metals demand. - more

      Increasing SUS Production in Indonesia and Its Export to China - more

      BCL liquidation gobbles over P1 billion while.... Phikwe BLEEDS, TREMBLES - While people of Selebi-Phikwe are reeling from unexplainable tremors that rock the town, leaving their houses with growing cracks – Government has been pumping millions of Pula into a liquidation of BCL mine that carries no promise of improving their lives.   - more

      Twin Metals Minnesota and Union Labor Reps sign project labor agreement - Twin Metals Minnesota expects union labor to build its copper-nickel mine in Ely once the project clears its environmental review and permitting process. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Wednesday, August 21
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $7.19/lb ($15,860/tonne). Indicators at 6:20 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and now total just over the 150,00 tonne level. Levels fell below 10,000 tonnes on July 16th. Nickel trading continues to be quiet. Market reminds us of a car in neutral. The car will only move when its on a downhill grade and like that, nickel is slowly drifting down. We have seen a few attempts to engage the gears today, and drive the market higher, but at least for the moment, they have proven unsuccessful. We still see $16,000 tonne level as a target for the market to maintain in the short term, so we expect to see some bumps in the near future. It all depends on what Indonesia decides and until they announce otherwise, we still maintain they will move up the ban on nickel ore exports as merely a rumor. We had a reader ask us if we were surprised to see LME inventory levels on the rise. No. In our opinion, with nickel prices so high, stainless steel producers are buying more conservatively. They know nickel's volatile track record and don't want to get stuck with a bunch of over priced nickel should the market tank. And for the big trading houses, who sometimes buy and move inventory from one warehouse to another, giving the appearance inventory levels are lower than they are... with prices so high, that's a risky endeavor. Besides, nickel has a life of its own these days, so who needs to goose the market with inventory numbers?
  • Average price of LME traded cash nickel so far this month -  $6.99/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - London copper edges higher on softer dollar, eyes Fed minutes - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • U.S. Imports of Stainless Steel Mill Products - more
  • Commodity Research Group's Ed Meir on the Metals Market - audio here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (Zimbabwe) Govt sets mining committees - more
  • Trump finally labels China a currency manipulator - more
  • Fed’s Daly Says She Doesn’t See a U.S. Recession on the Horizon - more
  • U.S. Futures, Europe Stocks Climb; Treasuries Slip: Markets Wrap - more
  • Positive Indian Ocean Dipole pattern continues - more

     Tuesday's market review - Copper slides as spotlight falls on sagging China demand - Copper prices fell on Tuesday as the market focused on prospects for weaker demand in top consumer China, where activity in the manufacturing sector has deteriorated due to the prolonged U.S.-China trade dispute. - more

      China Attacks China; A Tale Of Collateral Damage In The Trade War - Trade war tariffs are designed to protect local industry from international rivals, but in the case of a Chinese steel industry leader, it is under a tariff attack from its own government. - more

      Taiwanese stainless steel mills may increase prices for Sep as nickel stands firmly - The London Metal Exchange (LME) nickel price reached US$16,000/ton above on August 14th. After that, the three-month nickel price dropped to US$15,810/ton on August 20th. - more

       January to June 2019 Metals Balances - The nickel market was in deficit during January to June 2019 with apparent demand exceeding production by 55.5 kt. In the whole of 2018 the calculated deficit was 95.7 kt.. - more

      Chinese steelmaker plans to put up $2-billion plant in Vietnam - Mintal Group wants to build a $2-billion plant in the central province of Thanh Hoa producing carbon ferrochrome, stainless steel and non-ferrous metals. - more

      Courtesy AISI - In the week ending on August 17, 2019, domestic raw steel production was 1,857,000 net tons while the capability utilization rate was 79.8 percent. Production was 1,861,000 net tons in the week ending August 17, 2018 while the capability utilization then was 79.4 percent. The current week production represents a 0.2 percent decrease from the same period in the previous year. Production for the week ending August 17, 2019 is down 0.5 percent from the previous week ending August 10, 2019 when production was 1,867,000 net tons and the rate of capability utilization was 80.2 percent. - source

      Palmer's Qld Nickel defence ready to go - Clive Palmer's legal team at the Queensland Nickel collapse trial is set to begin the billionaire businessman's defence. - more

  • Palmer's $100m QN loans never 'sinister' - more
      Minnesota Supreme Court denies challenge of PolyMet environmental review - The Minnesota Supreme court has declined to hear a petition for review from environmental groups regarding the PolyMet copper-nickel mining project. - more
  • Twin Metals says it will use union labor to build mine  - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Tuesday, August 20
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Monday's trading session at $7.22/lb  ($15,920/tonne). Indicators at 6:15 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouses went unchanged yesterday and remain just above the 149,600 tone level. Nickel trading remains in neutral, having surrendered the $16,000/tonne level yesterday. Quiet on the news front today, and with sumer coming to an end, last minute vacations are being taken. Just a heads up - LME markets will be closed this coming Monday for Summer Bank Holiday. Not a lot to talk about today, so we won't try.
  • Average price of LME traded cash nickel so far this month - $6.98/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Shanghai aluminum hits over 9-month high on supply worries - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Crude steel production monthly - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Commodity Prices Not Syncing Recession Indicator - more
  • Western Areas Presentation - pdf here
  • Stocks Edge Up as Trade, Economic Momentum Mulled: Markets Wrap - more

     Monday's market review - Aluminum hits two-week high after China unveils rate reforms - Aluminum touched its highest in more than two weeks on Monday and copper also rose after China unveiled interest rate reforms that could boost the economy of the top metals consumer. - more

      BHP says U.S.-China trade spat not yet hurting demand for its commodities - Top global miner BHP Group said on Tuesday the U.S.-China trade war is not yet affecting demand for its commodities. - more

     Mission to rare metal asteroid could spark space mining boom - Scientists think it is mostly made of nickel and iron, but could also be abundant in more valuable metals such as platinum and gold. - more

      Anti-mining meeting in Ely raises stir - An unannounced meeting in Ely, where anti-mining advocates showed up en masse to share their concerns with representatives of U.S. Sen. Amy Klobuchar, appears to have raised more questions than it answered. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Monday, August 19
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $7.31/lb  ($16,125/tonne). Indicators at 6:20 am CST today show nickel trading around $.04/lb  lower. Stockpiles of nickel stored in LME licensed warehouses added over 4500 tonnes on Friday and start this week just over the 149,60 tonne level. Cancelled warrants have fallen into the 25% range. LME warehouses have seen warehouse numbers grow on six of the last eight sessions and a total loss of 18 tonnes recorded. The price of nickel has slipped the last few sessions, but so far, the $16,000 level is holding. This has given the market a positive technical signal, but traders appear to be exhausted and weary if they have over stretched. The Philippines biggest nickel mine announced it was closing, having reached its end of life. Had this happened a few month ago, it would have sent a shock wave thru the industry. Today, we are seeing no reaction. Nickel's trend line since mid Thursday has been down, but for the last week, it remains positive. Nothing from Indonesia over the weekend, except the announcement of a Chinese and Singapore teaming up to build another smelter in that country.  So where will nickel end this week? Stay with us and we will find out together. Until then, we hope you have a successful week.
  • Average price of LME traded cash nickel so far this month - $6.96/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper ticks up on China stimulus hopes - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • SMC Base Metals Monthly - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Disinfection of stainless steel in hospitals - pdf here
  • Nickel booms as supply deficit looms - more
  • China's steel output to drop in H2: Fitch - more
  • Analysis: China's rising steel output in balance with domestic property demand - more
  • Stocks Climb Globally; Oil Gains, Treasuries Drop: Markets Wrap - more

     Friday's market review - Uncertainty on global growth, trade war weighs on market - Industrial metals prices were mixed on Friday, weighed down by uncertainty over how much weak global economic growth is undermining demand, but some metals saw support from potential shortages. - more

     US government to investigate if Chinese steel is evading tariffs - The U.S. Commerce Department announced on Wednesday that it would investigate whether steel products made in China and Taiwan and finished in other countries are evading U.S. tariffs. - more

      The Commodities Feed: Nickel spreads tighten - Nickel’s forward curve has seen a dramatic change over the last couple of days. - more

      EV’s Will Make Nickel A Once-In-A-Generation Investment Opportunity, Says BHP - The display of oomph at last week’s Diggers & Dealers conference in Kalgoorlie was not restricted to the gold stocks. - more

      Philippines' top high-grade nickel ore miner set to shut down: government official - The Philippines’ top exporter of high-grade nickel ore is expected to shut its mining operations soon as ore deposits at a project in the nation’s southernmost province of Tawi-Tawi are nearly depleted, a ministry official told Reuters. - more

      South Africa's Cr Ore Export in June 2019 Is 1.1018 Million Tons - According to the foreign trade statistics of South Africa, the export volume of chrome ore (material quantity) in June 2019 was 1,101,772 tons, down by 5.8% from 1,169,548 tons in the prior month. - more

      China's Import of High-carbon Ferro-chrome in June 305,000 Tons - According to the foreign trade statistics of China, the import volume of high-carbon ferro-chrome (material quantity) in June 2019 was 304,897 tons, up by 0.7% from 302,800 tons in the prior month. - more

      Esperance Port receives nickel export approvals  - After more than five years of preparations, the Department of Water and Environmental Regulation has issued formal approval for Southern Ports Authority to export nickel from Esperance. - more

      Palmer tries to halt Queensland Nickel collapse trial - Clive Palmer's defence team wants the Queensland Nickel collapse trial thrown out amid a dispute over the remaining claims against the billionaire businessman. - more

      Gina Lopez, Who Led Crackdown on Mines in the Philippines, Dies at 65 - Gina Lopez, a former environmental activist who introduced a broad crackdown on Philippine mining companies after she was appointed the country’s environmental secretary in 2016, died Monday at age 65. - more

      Stainless Steel Pdf Library Week Three

  • Basic facts about stainless steel - International Stainless Steel Forum - pdf here
  • Stainless Steel by Corey Steel - pdf here
  • The History of Stainless Steel - pdf here

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Friday, August 16
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Thursday's trading session at $7.37/lb  ($16,250/tonne). Indicators at 7:10 am CST today show nickel trading around $.07/lb  lower. Stockpiles of nickel stored in LME authorized warehouses rose again on Thursday and started today's session just over the 145,100 tonne level. Nickel closed over the $16,000/tonne level last night, and while lower this morning, is still holding this level. Part of this drop 'might' have something to do with the overnight drop in the Euro, but during this bullish run, the movement of the Euro has meant very little. If the Euro is having an effect today, then traders may be looking at $16,000 as the level to work with until the Indonesia confirms or denies the rumor that that he intends to accelerate the 2022 nickel ore export ban. Lot of mights and maybes in all that, but it sounds much more professional than 'who the f--- knows!'. Market really didn't move all that much yesterday but we are experimenting with an abbreviated Friday update. Enjoy your weekend.
  • Average price of LME traded cash nickel so far this month - $6.93/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Shanghai nickel jumps, LME 3-month spread at decade high - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

     Thursday's market review - Copper drops as China prepares to fight back against U.S. tariffs - Copper slipped on Thursday after China said it would hit back against additional U.S. tariffs, fueling fears over global growth and metals demand. - more

      LME open-outcry trading holds off electronic challenge: Andy Home - The London Metal Exchange (LME) is now the only open-outcry market in Europe and one of the last in the world. - more

      Nickel May Be Limiting Material - The worldwide production of nickel will need to increase if it is to keep up with the demand for the metal created by new EVs. - more

      Shanghai-bonded nickel stocks hold stable at 21,800 mt - Inventories of refined nickel in the Shanghai bonded areas held stable this week, as wider import losses and the end of concentrated arrivals deterred flows into or out of bonded warehouses. - more

Thursday, August 15
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Wednesday's trading session at $7.23/lb ($15,950/tonne). Indicators at 6:20 am CST today show nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose again on Wednesday and started today just under the 144,800 tonne level. After falling to below $15,550/tonne in pre-market trading, nickel has been trading at or over the $16,000 tonne level for the last three hours. Cancelled warrants fell below the 27% level on Tuesday and fell even lower on Wednesday. This isn't exactly surprising considering the volatility in the market. For those who order nickel who will actually use it, the price has risen so fast that they are likely buying as needed and letting their stockpile reserves fall. For those who buy nickel and move it from one warehouse to another in an attempt to make stockpile numbers appear lower than they are, purchases at his point are incredibly risky - whether they be short or long. As news has leaked from Indonesia, finally confirming the government is looking at nickel ore exports again, no one really knows what the future holds for nickel trading. Once again, the Indonesia president plays the nickel market like a puppet moves his doll. This is our final update for the week, but like last, if we see some movement in the market, we will post an abridged update tomorrow. If so, it will be posted at least an hour later than our Mon - Thurs update. In the mean time, we hope you have a relaxing and safe weekend and hope to see you next week. 
  • Average price of LME traded cash nickel so far this month - $6.89/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper hovers near 2-yr low amid recession fears - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China steel futures extend rally on stimulus hopes; iron ore falters - more
  • Stocks Drop as China Vows Tariff Countermeasures: Markets Wrap - more

     Wednesday's market review - Copper falls as Chinese factory growth tumbles to 17-year low - Copper prices fell on Wednesday after industrial output growth in China, the largest metals consumer, fell to a more than 17-year low, weakening the outlook for demand. - more

      Shanghai spot nickel trades remain poor on expectations for lower prices - Spot nickel trades in Shanghai remained poor this week, as traders and downstream consumers held off on making purchases in anticipation of a pull-back in prices, which had soared in recent weeks. - more

      Indonesia posts trade deficit in July on weaker commodity prices - Indonesia has recorded a trade deficit of US$63 million in July on the back of weak commodity prices that has affected its export value, according to Statistic Indonesia (BPS) data released on Thursday. - more

      Nickel Mines expands Ranger stake in Indonesia - Nickel Mines has upped its stake in the Ranger nickel project in Indonesia to 60 per cent. - more

       Nickel corrodes in a totally unexpected way - Nickel is one of the most abundant elements on earth. It is hard, yet malleable, magnetic at room temperature, and a relatively good conductor of electricity and heat. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Wednesday, August 14
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $7.22/lb ($15,925/tonne). Indicators at 6:15 am CST today show nickel trading around $.03/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose Tuesday and started today's session reading just over the 144,400 tonne level.  As of this moment, cash nickel is trading up over 48-1/2% year to date. The last time Indonesia president Widodo banned exports of nickel, he was trying to force nickel miners to put smelters in his country. Instead of shipping his nations rocks to other countries  be processed, they would instead set up operations in his country, and employ his people. The plan worked and smelters have been built and more are under construction. But while these smelters are being constructed, his nickel miners needed to generate revenue so he lifted the ban for 5 years. That was two years ago. Buckling too pressure from a government leader comes with a price. It gives them motivation to try it again. Indonesia has been making some noise lately about how it wants to become the hub for EV battery production in the Far East. For hat to happen, they will have to convince some battery producers to build production in their country. By driving prices higher on a threatened ban, has Widodo now turned his threats toward potential battery producers? No matter where current producers are located, they are being hurt by the higher price of nickel. If this is the case and he is successful yet again, who is next - EV car producers? Whether this is the case, or there is some other reason Widodo might be considering going back on his word, nickel producers are winning and nickel users are losing. And while nickel trading is hesitating this morning at the $16,000/level, we question whether this level will put up much psychological resistance.
  • Average price of LME traded cash nickel so far this month - $6.85/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper declines on weak China data, Peru's export resumption - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Just Released: Mind the Gap in Delinquency Rates - more
  • China July Industrial Output Growth Weakens to 17-Year Low - more
  • Stocks Slide, Bonds Rally as Data Clouds Outlook: Markets Wrap - more

     Tuesday's market review - Copper climbs after U.S. delays plans to impose new tariffs - Copper prices climbed on Tuesday after the United States said its plans to impose 10% tariffs on some Chinese products would be delayed, which helped ease worries about growth and demand in top consumer China. - more

      President will decide whether Indonesia brings forward ore export ban -minister -  Indonesia’s President Joko Widodo will make the final decision on whether the country brings forward an export ban on mineral ore, the minister in charge of mining said on Tuesday. - more
  • Indonesian president’s decision on nickel export ban expected soon, says government - more

      As PolyMet battle rages, Walz begins to map out an Iron Range legacy - When Gov. Tim Walz met last week with business leaders trying to build Minnesota’s first copper-nickel mine, he was reminded of his initial visit to the Iron Range during the 2018 primary campaign, when the PolyMet project was still a simmering issue among members of the DFL party. - more

      Local companies eye electric vehicle materials opportunity - A group of Australian companies are planning new industrial processing plants to produce key materials used in lithium-ion batteries, boosting Australia’s prospects of capturing more of the electric vehicle value chain. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Tuesday, August 13
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed yesterday's trading session at $7.13/lb ($15,710/tonne). Indicators at 6:20 am CST today show nickel trading around $.02/lb  higher. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Monday and started today's session just over the 144,100 tonne level. So far today, the volatility for nickel is lower, while the price is slowly rising. The market remains bullish and Indonesia continues to get the blame. Now Reuters s quoting an Indonesia media outlet that says the idea of moving up the ban on exports is under serious consideration. Our question would be that is this is true, what could possibly be the motivation behind it. The first ban came about to force nickel producers to build smelters in Indonesia. This has and continues to work. So what is up? If they are trying to force something, what could it possibly be? The want to become a hub for EV battery production  but not exactly sure how speeding up the export ban would help that come to be. How about a conspiracy theory? Hopefully this is not part of some political pay back. In the recent reelection results, President Jokowi won the island of Sulawesi except for two areas ... the South and Southeast. Those areas favored the opponent, Prabowo, pretty heavily. I bet one could guess where much of this island's nickel mines are located. Southeast Sulawesi favored Jokowi's opponent by a margin of 62 - 38% according to the Jakarta Globe. What we do know is the rumor behind the threat has the market a buzz and facing a great unknown.
  • Average price of LME traded cash nickel so far this month - $6.81/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Shanghai aluminum jumps to 2-1/2-month high on supply worries - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • U.S. Economy in a Snapshot - pdf here
  • Scotia Metals Monthly: No summer slowdown - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Decline on Turmoil in Hong Kong, Argentina: Markets Wrap - more

     Yesterday's market review - Lead scales two-week high on outage at Nyrstar smelter - Lead prices touched a two-week high on Monday after Belgium-listed Nyrstar said it had stopped production at its Port Pirie smelter in Australia, raising fears of shortages of the metal mainly used in car batteries. - more

      Indonesia to speed up enforcement of mineral ore export ban: detik.com -  Indonesia aims to speed up enforcement of a ban on mineral ore exports that is currently due to come into force in 2020, news website Detik.com quoted coordinating minister for maritime affairs Luhut Pandjaitan as saying on Monday. - more

      LME to extend open outcry trading times starting September 23 - The London Metal Exchange (LME) will extend its final open-outcry trading sessions for all metals starting Sept. 23 after volumes jumped during a trial, it said in a statement on Monday. - more

      Carmakers, battery manufacturers are calling nickel companies direct as supply shortfall looms - It’s great to be a nickel company, for the first time in a very long time. - more

      Courtesy AISI - In the week ending on August 10, 2019, domestic raw steel production was 1,867,000 net tons while the capability utilization rate was 80.2 percent. Production was 1,861,000 net tons in the week ending August 10, 2018 while the capability utilization then was 79.4 percent. The current week production represents a 0.3 percent increase from the same period in the previous year. Production for the week ending August 10, 2019 is down 1.6 percent from the previous week ending August 3, 2019 when production was 1,897,000 net tons and the rate of capability utilization was 81.5 percent. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Monday, August 12
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $7.05/lb ($15,550/tonne). Indicators at 6:20 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Friday and started this week just over the 144,100 tonne level, a little over 110 tones higher than last week started at. Cancelled warrants fell to the 27% level last Thursday and have remained there since. Nickel started out LME's morning session with another bullish charge, followed by a bearish run, and just recently, another spike. If you are into roller coasters, you are probably having fun watching the trading chart. If you are trading shorts, you are probably getting sea sick. It is interesting to see Reuters quote analysts who admit the last bullish charge by nickel was based on a rumor that proved it was nothing more than a rumor. So far, the rumor from Indonesia is just that. We are pulling a few comments from reports and articles last week that show the confusion amongst analysts on what all this could mean to the price in the future. From Bloomberg - Nickel will rally to US$17,000 or US$18,000 a ton if a ban is brought forward to before mid-2020, they said. And from Reuters - The important caveat, though, is BMO’s conclusion that “the market has more than fully priced in a ban already." And from Business Times - Technical price movements can be explained by "irrationality," Nicky Shiels, an analyst at Bank of Nova Scotia, said in an email on Thursday. The fundamentals meanwhile have taken a back seat. Shanghai futures' volume surge amid steady LME trading indicates "speculative interest is in panic mode," she said. The first two comments are based on speculation 'if' the Indonesia rumor proved to be something. What might happen when reality sets in is what keeps stainless steel producers on edge.  The week  is beginning with volatility calling the shots. We hope the rest of the week proves to be a good one for you.
  • Average price of LME traded cash nickel so far this month - $6.77/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Nickel gives up gains in volatile trade; zinc rises on Nyrstar outage - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Sucden Quarterly Metals Report - pdf here
  • Outokumpu Tornio Works - From Chrome Ore to Stainless Steel - 2012 - video here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Tesla Could Be Destroyed By The Closure Of Glencore Mine? - more
  • The Commodities Feed: Steel profitability struggling - more
  • SCMP - China’s rare earth producers say they are ready to weaponise their supply stranglehold, pass any tariff as cost to US customers
  • Russian customs data shows nickel exports for first 6 months of 2019 were 71,400 tons, up from 68,500 tons in the same period last year.
  • U.S. Stock Futures Decline as Hong Kong Sours Mood: Markets Wrap - more

     Friday's market review - Nickel slips from 16-month peak on Indonesian uncertainty -  Nickel slipped on Friday from a 16-month high amid uncertainty over whether top producer Indonesia would soon ban ore exports, while other base metals drifted lower after weak Chinese data. - more

      Nickel shows wild streak with sudden US$2,000 spike - A worker at a nickel processing plant in Sorowako, South Sulawesi Province, Indonesia. The metal surged as much as 13%, triggered by speculation that top producer Indonesia might bring forward a ban on nickel ore exports. - more

      Indonesian supply fears stoke brutal LME nickel battle: Andy Home - Nickel has this week experienced an extraordinary, turbo-charged rally.  - more

      Nickel’s fate lies in Indonesia as top supplier weighs early ban - Indonesia is weighing whether to bring forward a planned ban on exports of mineral ores, the country’s trade minister said, a day after nickel prices from London to China surged on speculation the Southeast Asian nation will halt shipments. - more
  • Indonesia says no decision yet on early start to mineral ore export ban - more
      US still buys lots of stainless steel products from China despite tariffs - According to statistics, although the US had levied import tariffs on Chinese stainless steel products, the quantity didn't decrease. - more

     Shanghai exchange issues draft rules for stainless steel futures - The Shanghai Futures Exchange on Friday issued draft rules for its upcoming stainless steel futures contract - more

      Stainless Steel Pdf Library Week Two

  • Introduction to Stainless Steels - pdf here
  • Design Guidelines For The Selection And Use of Stainless Steel - pdf here
  • Atlas Steel Stainless Steel Grade Datasheets - pdf here
  • Atlas Steel Stainless Steel Grade Chart - pdf here

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Friday, August 9
   Due to extreme volatility of nickel trading, we are posting an abbreviated Friday update.

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $7.20/lb  ($15,880/tonne). Indicators at 7:30 am CST today show nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose by over 2000 tonnes on Wednesday and started todays session just under the 144,200 tonne level.  We were wrong yesterday when we reported the price of nickel hit its highest since January 2014. It actually matched the highest it has reached since then, which was hit back in April 2018, and matched it to the very penny ($16,687.50/tonne). Another penny and we will be in five year territory. Not hard to guess where nickel's next line of major technical resistance is, is it? Lot more coming out now about the Indonesia rumor in the last 24 hours so we have posted below. Nickel is doing a fair job today of holding onto much of this weeks gains. Enjoy your weekend.
  • Average price of LME traded cash nickel so far this month - 
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - London nickel eases from 16-month peak, but set for 9% weekly gain - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

     Thursday's market review - Nickel leaps to 16-month high on Indonesian supply fears - Nickel prices rose more than 7% to a 16-month high on Thursday as fears rippled through the market that major supplier Indonesia could bring forward a ban on exports of nickel ore. - more

  • Nickel sizzle: Hot money piles into metal on Indonesia ore ban talk - more
  • China's move to peg yuan above 7/USD likely bad news for metals - more

      Traders baffled by sudden spike in nickel prices - Nickel has long had a reputation for being among the most volatile industrial metals, but its biggest daily jump in a decade has left even seasoned traders astonished. - more

      Indonesian nickel miners urge govt to stick to 2022 ore export ban - Indonesia’s nickel miners association urged the government on Thursday not to bring forward a ban on raw mineral exports from 2022. - more

  • Indonesia mulls nickel export ban - more

      China’s output of nickel pig iron rises 49% YoY in Jul - Production of refined nickel in China came in at 12,650 mt in July, up 0.56% from June and 1.61% from July 2018, showed an SMM survey. - more

      Ukraine Cuts Imports of Nickel Ore - Ukraine in January-July 2019 decreased imports of nickel ore and concentrate in natural terms by 15.5% compared to the same period in 2018, to 753,532 tonnes. - more

      Imports increase by another US$20 million as raw products dominate export list - Imports into Zimbabwe increased by a further US$20 million in May while raw products dominated the export list signifying declining manufacturing levels in the economy, a report by the Reserve Bank of Zimbabwe (RBZ) has revealed. - more


Thursday, August 8
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Wednesday's trading session at $6.72/lb ($14,810/tonne). Indicators at 6:20 am CST today show nickel trading around $.32.lb higher. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Wednesday and started today's session just over the 142,000 tonne level. So what happened while you were asleep last night? After LME markets closed in London yesterday, nickel spiked by around $700/tonne in a little over two hours. Unless there is some fundamental news out there that we aren't aware of, and the Indonesia rumor will not die no matter what Indonesia officials say, the move appears to be some technical buying and an attempt to drive the market over the $15,000/tonne level for good. The only thing that appears to have slowed down the spike was it hit major resistance, which is the highest level nickel has traded at since January 2015. But the bulls were not done. Last night, LME nickel traded at $7.56/lb ($16,667/tonne) before they suddenly decided to back off and be satisfied with gains of the the first bounce. The last time the market traded at the level it hit last night was in April, 2018 (to the penny $16,687.50/tonne)  And last night was a return to LME leads, SMM follows. The initial LME bounce happened before Shanghai markets were open, and in our pinion, the second bounce was feeding on the positive reaction of Shanghai markets. It was the bull feeding of the bull feeding off the bull.  Bambang Gatot Ariyono, director general of mineral and coal at Indonesia's mining ministry, told Reuters on Thursday that "I can only talk about the existing (rules). I don't want to talk about something that is uncertain," when asked about the rumor that Indonesia might accelerate nickel ore bans. On Monday Reuters reported that the same man replied to the same question  “I don’t want to speculate in that regard.” So if you are asking yourself why the man simply won't reply 'no', think about his job. His job is to  grow the mining industry and right now, thanks in part to his off hand evasions, his nickel miners are reaping a bonanza. His implicit denial could easily put the halt to that. So evasion has its rewards. This is our final update for the week, so we wish you all a relaxing and safe weekend and if things go nuts tomorrow, we might post an abbreviated price update.
  • Average price of LME traded cash nickel so far this month - $6.66/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Nickel sizzle: Hot money piles into metal on Indonesia ore ban talk - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • California’s largest recycling business closes, 750 laid off - more
  • Powell Speaks, Trump Tweets, China Reacts, Markets Freak. Repeat - more
  • Stocks Rise With Yuan as China Fixing Calms Market: Markets Wrap - more

     Wednesday's market review - Copper edges off two-year low as Washington soothes trade fears - Copper inched higher on Wednesday after U.S. President Donald Trump dismissed fears of a protracted trade war with China, though a lack of progress on resolving the conflict kept prices near their lowest since 2017. - more

      Base Metals: Mixed performance in 2019 – Rabobank - Rabobank analysts point out that so far 2019 has been a mixed year for industrial metals with a wide dispersion in market returns. - more

     Update: Funds buying bolsters Shanghai nickel -  Shanghai nickel hit its upper daily limit in early morning trade on Thursday August 8, bolstered by funds buying. - more

      IMFA’s ferro chrome production increases 19% -  Indian Metals & Ferro Alloys Ltd (IMFA), India’s leading fully integrated producer of ferro chrome, today announced Q1 FY20 results for the period ending June 30th, 2019. - more

      Industry divided over Odisha's decision to auction chrome mines -  Odisha government's decision to auction two chrome ore mines lapsing on 31 March 2020 but not Tata Steel’s Sukinda mine has the ferrochrome industry worried.  - more

      DNR declines to reconsider dam permits for PolyMet - The Minnesota Department of Natural Resources will not reconsider two permits issued last year to PolyMet’s planned copper-nickel mine, despite formal requests from environmental groups and tribal leaders. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Wednesday, August 7
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed yesterday's trading session at $6.82/lb ($15,030/tonne). Indicators at 6:20 am CST today show nickel trading around $.13/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just over the 141,900 tonne level. Nickel closed above the $15,000 tonne level yesterday, but once again, this level is offering some strong resistance.  It is finally leaking out what the rumor floating around China was, that spiked the market on Monday. Someone spread the rumor that Indonesia was not waiting until 2022 to clamp down on nickel ore exports, but was going to start denying permits as early as next month. Of course, Indonesia officials proved this was nothing more than a rumor on Monday, but the market has yet to surrender the gains it saw based on this run. In Australia, the annual Diggers and Dealers Conference has ended. If you look at the bottom of this page (here) you can see a list of the mining companies that made presentations. Some of them post their presentations on their websites and if you are looking for market intelligence, somewhat skewed to invite you to invest in their company, they are sometimes worth visiting. From a technical point of view, an inability of nickel to hold above $15M today, sends a mildly negative signal to the market. Whether traders care what signals are out there or not, remains to be seen.
  • Average price of LME traded cash nickel so far this month - $6.66/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - London copper hovers at two-year low amid trade jitters - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Trump still wants trade deal with China -adviser - more
  • Stainless steel over plastic: An imminent revolution - more
  • Stocks Rebound; Bonds Gain on Dovish Central Banks: Markets Wrap - more

     Yesterday's market review - Copper pinned at two-year low by trade conflict - Copper prices hovered around a two-year low on Tuesday as further escalation in the U.S.-China trade conflict delayed resolution to a dispute that has depressed economic growth and increased fears over metals demand.  - more

      LME to extend open-outcry trade to boost volumes - sources -  The London Metal Exchange is poised to extend its closing open-outcry trading sessions for all metals after volumes jumped in a three-month trial, denting expectations of an eventual move to full electronic trading. - more

      Court puts key PolyMet copper-nickel mine permit on hold - The Minnesota Court of Appeals has placed a stay on a key water quality permit for the controversial PolyMet copper-nickel mine proposed for northeastern Minnesota. - more

      Surprising discovery could change the way industry uses nickel - Nickel is one of the most abundant elements on earth. It is hard, yet malleable, magnetic at room temperature, and a relatively good conductor of electricity and heat. - more

      Clive Palmer held court in the Queensland Nickel trial. Then he settled  - The billionaire who once listed his hobby as litigation told reporters he had a ‘moral responsibility’ to fight the $200m claim by liquidators. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Tuesday, August 6
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Monday's trading session at $6.75/lb  ($14,880/tonne). Indicators at 6:15 am CST today show nickel trading around $.07/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today's session around the 142,200 tone level. Nickel held onto most of their gains yesterday, and are trading over the psychologically important $15,000 tonne level this morning. Indonesia uncertainty is being blamed for the spike, although the rumor yesterday proved to be no more than just that. In fact, the Indonesia minister told reporters he had no comment on the regulations in place. The trading chart shows $15,000 is putting up some resistance, but it only recently crossed that threshold, so anything goes.EV sales estimates for July have been released and for the bulls, it contained some bad news. After very respectable sales growth in June, based on a year to year comparison, July saw the first drop in monthly sales for 2019, when compared to July 2018. Last July saw sales of nearly 29,600 units, while sales last month fell to nearly 26,400 cars. It would be interesting to see how this compared to overall auto sales in the US, to see if this was an EV problem, or an overall blip in auto sales. Nickel is up 3.9% this week and it's only Tuesday morning. Last night it was up over 39% YTD. Wanna guess where stainless steel prices have and are going?
  • Average price of LME traded cash nickel so far this month - $6.60/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Base metals advance as trade worries weaken U.S. dollar - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Geojit Monday Review - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Vale option lifts Centaurus into 'much sought-after nickel sulphide space - more
  • Treasury Department declares China a currency manipulator - more
  • How the U.S.-China trade war started, and what’s coming next - more
  • U.S. Futures Rise With Europe Stocks as Yuan Gains: Markets Wrap - more
  • Indian Ocean temperature patterns continue as key Australian climate influence - more

     Monday's market review - Copper hits two-year low as U.S.-China trade war escalates - Copper prices fell to their lowest in more than two years on Monday, hit by the escalating trade dispute between the United States and China, while nickel prices climbed on concern over supplies from Indonesia. - more

      Indonesian official keeps mum on possibly moving forward iron ore export ban - A top Indonesian mining ministry official said on Monday he did not want to speculate on whether the government might bring forward a planned ban on iron ore exports from 2022. - more
  • Indonesian official refuses to be drawn on whether ore export ban might be brought forward - more

      In win for PolyMet, court upholds Minnesota's nonferrous mining rules - The state Court of Appeals said Monday that Minnesota’s rules governing hard-rock mining are valid, delivering a blow to environmentalists who challenged them as too vague to protect the state’s natural resources for a new era of mining on the Iron Range. - more

      Clive Palmer settles $200 million Queensland Nickel lawsuit - It took liquidators three years to get Clive Palmer into court to face a $200 million Queensland Nickel lawsuit, but just three weeks to make him pay up. - more

      There's One Metal Worrying Tesla and EV Battery Suppliers - Battery producers and electric automakers, including Tesla Inc., are concerned over longer-term supplies of nickel, a key material in their supply chain that’s forecast to fall into deficit, according to an Australian miner that’s held recent talks with the sector. - more

      Courtesy AISI - In the week ending on August 3, 2019, domestic raw steel production was 1,897,000 net tons while the capability utilization rate was 81.5 percent. Production was 1,848,000 net tons in the week ending August 3, 2018 while the capability utilization then was 78.8 percent. The current week production represents a 2.7 percent increase from the same period in the previous year. Production for the week ending August 3, 2019 is up 0.7 percent from the previous week ending July 27, 2019 when production was 1,884,000 net tons and the rate of capability utilization was 80.9 percent. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Monday, August 5
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $6.55/lb , traders barely reacting to the prior days tariff news. Indicators at 6:20 am CST today show nickel trading around $.21/lb . Stockpiles of nickel stored in LME licensed warehouses  fell on Thursday and Friday and start the week just under the 143,00 tonne level. After rising slightly on Thursday and then losing much of that increase on Friday, nickel has skyrocketed this morning and I am unable to find any reason for it. It appears there was a rumor in China that Indonesia was going to release details today on the possible nickel ore export ban to take effect in that country in 2021. While the rumor turned out to be no more than that, the Shanghai nickel price spiked by over 4%. London markets, which nearly always lead the pack appear to be playing follow the leader this morning, no wanting to be left behind. We may be wrong and we will eventually find out, but we suspect this is merely another attempt by the bulls to beat the psychologically important $15,000 tonne barrier. They have yet to test it this morning, but have come very close already today. After some uncertainty since July 18, nickel prices appear to have bottomed out on the 29th of July and have spiked again today. Where they will go remains to be seen, but we invite you to join us as we find out together. Enjoy the first full work week of August. It appears to have started with a bullish bang.
  • Average price of LME traded cash nickel so far this month - $6.53/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper drops to 2-year low as U.S.-China trade war escalates - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • PUC Monthly Report - pdf here
  • Australian Mining Review - online here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Trump says U.S. to hit $300 billion worth of Chinese goods with 10% tariff - more
  • HKEX rolls out 'mini' futures designed to help investors hedge six base metals during Asian trade - more
  • SMM reports nickel ore stockpiles at all Chinese ports rose 80,000 wmt to total 13.49 million wmt as of August 2
  • Aperam Quarter Two Results - pdf here
  • Vale Quarter Two Results - pdf here
  • China Warming to Idea of Yuan as Trade War Weapon, Analysts Say - more
  • Stocks Tumble, Treasuries Surge as the Yuan Hits 7: Markets Wrap - more

     Friday's market review - Copper clocks biggest weekly fall in a year on U.S.-China trade war - Copper prices on Friday posted their steepest weekly fall in a year after President Donald Trump said the United States would impose more tariffs on Chinese imports, escalating a trade war seen weakening economic growth and metals demand.  - more

  • Thursday's market review - Aluminum hits one-month low on global demand worries - Aluminum prices hit their lowest in about a month on Thursday on fears of weak consumption after the world’s biggest steelmaker cut its global demand forecast and Chinese data showed shrinking factory activity.  - more
     China's metal imports falter, raw materials still robust: Andy Home - China’s imports of refined base metals faded over the course of the first half of 2019.  - more

     Stainless steel prices may rise further for Sep if nickel price remains same pattern - The major upstream stainless steel mills in Taiwan sharply raised their stainless steel prices for August this week, and the increase hit a 2-year high. - more

      Price of HC FeCr in China Hits Bottom and Rebounds = Stainless steel mill raises purchase price due to decreased supply = The price of high-carbon ferro-chrome in the Chinese domestic market has continued to go down slightly during May to June, and after it hit the bottom in the middle of July, it began to rebound in late July.  - more

      Indonesia's Antam H1 nickel ore output up 27% y/y - Indonesia’s state mining company PT Aneka Tambang’s (Antam) nickel ore output in January-June period recorded at 4.79 million wet tonnes, up 27% from the same period last year  - more

      The LME is Europe’s only surviving “open outcry” venue - HerR client's huge order would cause prices to surge if the market got wind of it. - more

      BHP to start nickel sulfate production for EVs in second-quarter of 2020 - BHP Group plans to start production of nickel sulfate in the second quarter of next year, as it ramps up sales of its nickel products to the battery industry, asset president Eddie Haegel said on Friday.  - more

      Sudbury’s mining expertise, regreening success story attract Latin American delegations - Battery-powered mining equipment and Sudbury’s regreening efforts are attracting groups from Latin America to visit the Nickel City in August. - more

      Australia's Mincor signs nickel supply deal with BHP - Australia’s Mincor Resources NL said on Monday it had signed a long term agreement with mining giant BHP Group to supply nickel concentrate.  - more

      Clive Palmer agrees to repay millions over Queensland Nickel collapse - Clive Palmer has settled another massive chunk of his $200 million lawsuit over the collapse of Queensland Nickel, including repaying $66 million in taxpayer funds used to pay sacked workers. - more

      Stainless Steel Pdf Library Week 1

  • Corrosion Resistance of Stainless Steels - presentation by IMOA - pdf here
  • Laboratory Corrosion Data - Resistance of Stainless Steels to Chemical Media by Just Mfg - pdf here
  • Corrosion Resistance of the Austenitic Chromium-Nickel Stainless Steels in Chemical Environments - pdf here

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us
Thursday, August 1
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Wednesday's trading session at $6.57/lb ($14,480). Indicators at 6:15 am CST today show nickel trading around $.07/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose slightly on Wednesday and ended the month of July just under the 143,700 tonne level. The rate of decrease in nickel inventories for the month of July was 957 tonnes per working day. That compares to the fluke monthly gain in June of 129 tonnes per day. The Euro is getting hammered today, and considering it has been on the slide since June 28th, nickel's bullish run looks even more impressive. A stronger Euro supports base metals trading and thus th opposite adds pressure. That would be hard to prove this last month, but there it is. Nickel appears to be looking for direction but the bull is far from contained. August is typically a slower month for stainless steel production with European holidays, but we have seen the nickel market turn bullish during August in year past, so remain vigilant. This is our final update for the week, so we wish our readers a relaxing and safe weekend and invite you back next week.
  • Average price of LME traded cash nickel so far this month - $6.11/lb (average July)
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Aluminum hits one-month low on global demand worries - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • Steel Industry Executive Summary: July 2019 - pdf here
  • Scotiabank Commodity Price Index - pdf here
  • Metals Market Sentiment - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Brazil's Vale dam disasters trigger $2 billion in fresh writedowns - more
  • Chinese billionaire indicted in U.S. for alleged $1.8 bln aluminum tariff evasion - more
  • Dollar Extends Post-Fed Gains; Treasuries Retreat: Markets Wrap - more

     Wednesday's market review - Lead bounces from two-week low after inventories surge - Lead rebounded from a two-week low on Wednesday after the metal mainly used for batteries came under pressure from a pile-up of inventories and better supply prospects.  - more

      China media reports production of stainless steel cold rolled sheet totaled 5.13 million tons in the first half of 2019. It broke down as follows - 300 series at 2.82 million tons, 400 series at 890,000 tons, and 200 series at 1.42 million tons. The output of 304 stainless steel wide-width cold-rolled coils totaled 2.5 million tons. Information per the Stainless Steel Branch of China Special Steel Enterprise Association.

      Nickel Monthly News For The Month Of July 2019 - Nickel spot prices were up sharply in July, and the LME inventory was lower and remains near a 7 year low. - more

      Indonesia's Antam H1 nickel ore output up 27% y/y -  Indonesia’s state mining company PT Aneka Tambang’s (Antam) nickel ore output in January-June period recorded at 4.79 million wet tonnes, up 27% from the same period last year  - more

      Zimbabwe: Bindura Nickel Records $13,5m Profit - Africa's only integrated nickel mining and smelting company Bindura Nickel Corporation realised a profit after tax of US$13,5 million for the year ended March 31, 2019, compared to the US$5,8 million recorded in the prior year. - more

      Clive Palmer settles with biggest creditor in $200m Queensland Nickel lawsuit - Billionaire Clive Palmer has reached a settlement with the biggest creditor in a $200 million lawsuit over the collapse of his ill-fated Queensland Nickel venture. - more

  Morning Nickel Price Statistics & Figures

  • Today's almost official prices here  /  Yesterday's actual LME official prices here or here
  • Shanghai Jinchuan nickel price - available here or here (updated)
  • India MCX Nickel Price - more  more
  • 100 Years of Stainless Steel Video - online here
  • Please let us know if any of these links stop working, stop carrying info, or become available to subscriber's only. We encourage our readers to use the services of those companies who supply news and information free of charge. Contact us

July Archives


Chart temporarily down

Nickel Graph Temporarily Down

Chart temporarily down




Translate this page to French | German | Spanish | Italian | Portuguese | Chinese | Japanese | Korean | Russian


"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 7 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.

Contact author  /   EStainlessSteel Home Page

Your free daily news source for nickel, molybdenum, ferrochrome, chromium, iron ore and stainless steel market prices and news.

Any reproduction in whole, or in part, without permission from the author is prohibited.
© 2003-2019


Price of Nickel

Nickel Graph Temporarily Down

Daily Commodity Prices

Site Pages

Stainless Steel Surcharge
Worldwide PMI

MEPS Stainless Steel Price Index

Global 304 SS Index

nickel prices

North America 304 Index

price of stainless steel

EU 304 SS Index

price of nickel

Asia 304 SS Index

Archives

2019
January February March
April May June July August
September October


2018
January February March
April May June July August
September October
November December

2017
January February March
April May June July August
September October
November December


2016 and prior










Nickel Publications at Amazon