This page is archived news covering the period of August 2021
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Stainless Steel News and Nickel Prices


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Tuesday, August 31

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel on the LME went untraded yesterday. Indicators at 6:00 am CST today show nickel trading around $.23/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started today just under the 194,500 tonne level. Cancelled warrants came in very close to the 34% level on Friday. LME traders have returned after a three day weekend, with a bang. Nickel jumped in overnight trading at Shanghai, and LME traders are following suit. At the moment, nickel is trading $500/tonne higher, but still has a ways to go before it ends as high as it did in July. Stainless steel is also trading higher in China, with all three stainless indexes we follow moving higher - again lower than they ended July however. The Wyloo - BHP bidding war in Australia for Canadian Noront Resources continues. Lot of port bottleneck news under 'Other News' below. And finally, we can't help take a swipe at the Chinese nickel workers in Indonesia, who we haven't heard from since they were the first large group of foreigners we recorded that were quarantined early in the covid crisis. The leading theory for the origination of the pandemic is the Wuhan food mart, where Chinese shoppers could buy just about any live animal, diseased or not. The Chinese really need to get over their need to eat any animal, including those that foreign countries recognize as endangered. The rest of the world would appreciate it, as we are tired of seeing our neighbors die because someone in Wuhan decided to try wild bat soup. Last day of August and the unofficial end of summer in the Northern Hemisphere. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.68/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London aluminium hits 10-year high on supply concerns - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3958
  • SHFE Stainless Steel  Futures (yuan) - 18,870

Stainless steel 21st century metal   Why Stainless Steel

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

      Taiwan’s Yusco raises export stainless steel prices for Sep - Yieh United Steel Corp. (Yusco), a leading stainless steel mill in Taiwan, announced its new prices for September today (August 30). - more

      Shanghai stainless steel rises on nickel boost, output curbs - Chinese stainless steel futures jumped more than 4% on Tuesday, backed by strong nickel prices and supply concerns amid controls on high energy-consuming projects in some regions that had failed energy targets in the first half. - more

      Wyloo hikes bid for Ring of Fire explorer Noront Resources, trumps BHP offer - Wyloo Metals Pty Ltd. is increasing its bid for Noront Resources Ltd., trumping BHP’s current offer, and proposing an arrangement that would see the Ring of Fire exploration company remain as a publicly traded entity. - more

      POSCO Starts High-purity Nickel Production for Secondary Batteries - New high purity nickel factory in Gwangyang to produce 20 thousand tons per year to secure supply for cathode materials necessary for the high-capacity batteries, capable for 500 thousand electric Motor Vehicles - more

      DoF still pushing through with mines privatization - The government is still proceeding with a plan to privatize state-owned mines, with Basay Mining Corp. being the first in line, as it looks for new sources of revenues amid the prolonged pandemic, Finance Secretary Carlos G. Dominguez III said. - more

  • Gov’t unveils move to sell Basay Mining - more

      Courtesy AISI - In the week ending on August 28, 2021, domestic raw steel production was 1,873,000 net tons while the capability utilization rate was 84.9 percent. Production was 1,476,000 net tons in the week ending August 28, 2020 while the capability utilization then was 65.9 percent. The current week production represents a 26.9 percent increase from the same period in the previous year. - more

      No charges for Chinese nickel smelter workers who made croc soup out of protected reptile (Video) - It seems viral footage depicting Chinese workers skinning a wild crocodile and cooking its meat in soup is not sufficient evidence to charge them for the killing of the protected animal. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Port Problems Reach Worst of Pandemic Amid Crush of Imports - more
  • White House appoints 'port envoy' to tackle congestion, bottlenecks - more
  • 5 years of supply chain disruptions and the lessons learned - more
  • One Stuck Box of Fertilizer Shows the Global Supply Chain Crisis - more
  • Hospitals in U.S. South Run Low on Oxygen Amid Covid, Storm - more
  • Stocks, U.S. Equity Futures Climb; Dollar Declines: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Monday, August 30

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.62/lb   ($18,995/tonne). With LME closed today for their Summer Bank Holiday, we have to look to Shanghai for metals trading activity. There, nickel played follow the LME on Friday leader and rose slightly. So, no news from there. The heavily anticipated remarks by the Fed chairman on Friday were, in a word, dovish, but few clues with any certainty were offered. Starting to see more and more news stories on the supply chain causing, so far, minor shortages in food here in the States. This week we noticed the grocery store was hit pretty hard, but figured that was due to the kiddo's heading back to school. Coffee is having an especially hard time getting to morning cups. Ida hit Louisiana as a Cat 4 and oil refineries in the area were shut down prior to the hurricane hitting landfall. Too early to know if they sustained any damage. And that California wildfire camera (Leek Springs) we linked to last week, overnight firefighters were seen fighting the blaze to keep the earthquake monitoring station safe that the camera sits on. It's a new week, albeit only two days of which belong in August. Stay safe out there and have a great week.
  • Average price of LME traded cash nickel so far this month - $8.68/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai aluminium touches 13-year high on supply worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3953
  • SHFE Stainless Steel  Futures (yuan) - 18,525
  • University of Michigan: Consumer Sentiment - more
  • United States Imports For Consumption Of Stainless Steel Products - chart here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - China curbs propel aluminium prices to highest since April 2018 - Aluminum prices soared to their highest level in more than three years on Friday as worries about supplies from top producer China escalated after the country’s Xinjiang region imposed output limits on five smelters. - more

      South Korea's stainless steel mills gain considerable profits in H1 2021 - According to statistics, the sales volume of South Korea’s stainless steel cold-rolled sheets amounted to around 208,000 tons in the first half of this year, hiking by 16.7% compared to the same period a year ago. - more

       POSCO starts production of high-purity nickel for batteries - POSCO has begun production of high-purity nickel - required for secondary batteries - at SNNC. SNNC is a JV established with SMSP, the largest nickel exporter in New Caledonia, in 2006, and was Korea’s first specialized ferronickel manufacturer engaged in producing and selling ferronickel (nickel 20%, iron 80%), the main component of stainless steel, as well as other by-products. - more

      Europe’s Steel Rally May Be Peaking While the U.S. Powers On - The rally in European steel prices to eye-watering levels may finally be running out of steam. - more

      Tamarack mining project risks are subject of meeting - A presentation by WaterLegacy, a Minnesota advocacy group, drew a diverse crowd on Aug. 21 at the Minnewawa Sportsmens Club pavilion. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Food Suppliers Are Having Trouble Keeping Shelves Stocked - more
  • Global Coffee Supply Dealt Fresh Blow by Vietnam’s Virus Curbs - more
  • U.S. goods-trade gap shrinks as imports fall from record high - more
  • Stocks, Futures Steady on Powell’s Dovish Stance: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Friday, August 27

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.51/lb ($18,756/tonne). Indicators at 6:00 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today just over the 195,250 tonne level. All eyes are on the Fed Chairman today, who gives a speech at 10 am EST. If you want to get an idea of what he says, without actually hearing him, watch the markets and what they do after that time. Right now, they are volatile, with bulls and bears betting on what he might say. The market is hoping, and dreading, to learn when the Fed might start putting some curbs on its stimulus measures. This has an effect on base metals trading, as seen in yesterday's drop, so its worth watching. Another slow news day and thanks to the Nickel Institute, an article with an intriguing, albeit gross, title that is worth a read. And Amnesty International has its eyes on the Philippine nickel industry. Stay safe out there and have a great weekend.
  • Average price of LME traded cash nickel so far this month - $8.69/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - China curbs propel aluminium to highest since April 2018 - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3991
  • SHFE Stainless Steel  Futures (yuan) - 18,085
  • US Economic Indicators: Industrial Production - pdf here
  • Stainless Steel and CO2: Facts and Scientific Observations - pdf here
  • Gross Domestic Product Corporate Profits Second Quarter 2021 - more
  • Multi factor Productivity Trends for Detailed Industries - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper falls as cautious investors await Powell speech - Prices of copper and other industrial metals slipped on Thursday as global stock markets wobbled ahead of a keenly awaited speech by U.S. Federal Reserve Chair Jerome Powell on Friday. - more

      European stainless steel scrap prices upheld by low supply - According to market participants, the prices of European stainless steel scrap were upheld by the low supply in the past week instead of dropping amid the lower nickel price. - more

    During the next decade, millions of electric vehicle batteries will be retired. What becomes of them? - Electric vehicles are expected to flood the highways of rich countries as car firms and governments commit to increasing their production. - more

       Would you drink the water coming out of a municipal Wastewater Treatment Facility? - “There’s a mental hurdle to get over of how inherently gross this could be, but we know that this water is safe, and we stand by our process.” - pdf here

      Amnesty International - Philippines: Undermining workers’ rights: Labour rights abuses in nickel supply chains: Executive summary - This document provides a summary of the report in which Amnesty International raises serious concerns about rights at work for workers in the nickel mining sector on Dinagat Island in the Philippines. - pdf here

   Other News

  • Reuters The Day Ahead - pdf here
  • Inflation: Negotiate with suppliers and don't panic - more
  • Liquid oxygen shortage squeezes SpaceX launch plans - more
  • Stocks Steady, U.S. Futures Rise Before Powell: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Thursday, August 26

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.71/lb ($19,200/tonne). Indicators at 6:00 am CST today show nickel trading around $.14/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just shy of the 196,300 tonne level. Markets around the world are lower after Goldman Sachs predicted the Fed will start tapering measures in November. The Euro is trading higher this morning, typically positive motivation for the bulls - but today, that is likely offering a sugar cube to an addict. News was quiet over the last 24 hours, with covid and Afghanistan hogging the headlines. The Ningbo port is back to 100% reopened, a big deal when you consider its the worlds third busiest. Here is the States, Houston had its busiest month ever in July, as container ships look to avoid the jams at Long Beach and Los Angeles. Since news is light, we are adding a link to a page that might be of interest to some of you. As many Americans are aware, California is ablaze again this year. The state has a network of over 600 cameras located throughout their forests and this is what one is showing today from one small section of the Caldor Fire (link). Look below for other cameras and the main page has the complete directory. This is the Caldor Fire and as its closes in on Lake Tahoe, it has become priority number one for firefighters. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.70/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls on investor caution ahead of Fed symposium - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3991
  • SHFE Stainless Steel  Futures (yuan) - 17,905
  • US Economic Indicators: Durable Goods Orders & Shipments - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper holds gains as inventories dwindle - Copper prices held on to recent gains on Wednesday, helped by signs of strong demand in top consumer China and a steep decline in inventories available in the London Metal Exchange (LME) warehouse system. - more

      Contractor dies at Vale's Copper Cliff operations in Sudbury - Police, Labour ministry investigating fatal incident at nickel miner's matte processing plant - more

      Shipping cost index reaches 11-year high - This week, we saw 11-year highs in one economic indicator: the Baltic Dry Index. It’s a sea freight index. - more

  • Exclusive Interview: Third-Party Risk & Compliance Expert for Dun & Bradstreet Addresses Port Crisis - more
  • Chinese Container Terminal Reopens After Two-Week COVID Closure - more
  • Port Houston Reports Record Container Volumes in July - more

   Other News

  • Reuters The Day Ahead - pdf here
  • AUS: Tritium redesigns DC charger for mining operations - more
  • In Sales, Quality Still Tops Quantity Every Time - more
  • Stocks Drop as Tech Retreats; Crude Oil Declines: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Wednesday, August 25

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.64/lb ($19,055/tonne). Indicators at 6:00 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday - yes rose - and started today's session just shy of the 197,100 tonne level. We saw one of those last month, a couple in June and none in May. One of those being days where LME nickel stockpiles actually grew. World steel production in July was 3.3% higher than July 2020, while Platt's steel index for China is at a five month low. There are numerous internal reasons why China would like to lower steel output, primarily to cut down on the smog they create. But recently, their diplomats are saying this action is targeted at lowering iron ore exports from Australia - a country they are in an intensive tiff with. Australia is feeling the squeeze, but we suspect the squeeze would have been there, diplomatic difficulties or not. With 122 days left until December 25th, we posted an article below about how the container shipping problems might adversely affect Christmas. We hate to be the ones to break this news but Christmas has been cancelled. Covid killed Santa (story here). Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $8.69/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper steady; investors await Fed symposium - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3971
  • SHFE Stainless Steel  Futures (yuan) - 18,000
  • U.S. Imports for Consumption of Steel Products July 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Copper claws higher but remains jittery on rates - Copper prices marched higher for a third session on Tuesday on signs of a rebound in physical demand, but gains were capped by uncertainty ahead of a U.S. central banking conference. - more

       July 2021 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 161.7 million tonnes (Mt) in July 2021, a 3.3% increase compared to July 2020. - more

      China’s steel manufacturing production index hits five-month low in July - China’s manufacturing production index of steel consumption produced by S&P Global Platts stood at 91 points in July, a five-month low but still 3 points higher than the same period in 2020. - more

      Courtesy AISI - In the week ending on August 21, 2021, domestic raw steel production was 1,877,000 net tons while the capability utilization rate was 85.0 percent. Production was 1,476,000 net tons in the week ending August 21, 2020 while the capability utilization then was 65.9 percent. The current week production represents a 27.2 percent increase from the same period in the previous year. - more

      Korea to launch new mining agency on Sept. 10 - South Korea will launch a new public agency to oversee metals, minerals and mining affairs next month, amid growing concerns over the future availability of raw materials critical to the country’s backbone industries, the government said Tuesday. - more

      Cargo Delays, Supply Shortages, and Increased Prices Likely to Continue Through Q4 - Supply chain managers seeking solutions to increase cargo throughput velocity are in for a rude awakening, says a prominent Syracuse University professor. - more

  • Dry Bulk Shipping Rates Soar as Commodities Rebound - more
  • How the Crisis in Container Shipping Could Affect Christmas - more
  • 2020 Safer Seas Digest - pdf here

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks, Futures Steady; China Tech Rebound Stalls: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Tuesday, August 24

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.58/lb ($18,905/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday, and started today's session just over the 195,500 tonne level. The last time stockpiles saw a plus day was July 5th, and since that session, stockpiles have fallen by 37,000 tonnes. Nickel hit the $19,000/tonne level a couple of times in yesterday's trading, but closed about $100/tonne shy. This morning nickel has crept over that level, but with little enthusiasm. Both Thursday and Friday's trading low was around the $18,400/tonne, so if you are a technical trader, that level could become important during any bearish pullback in the future. Markets appear to have taken a wait and see attitude while they wait to hear what the FED talked about at the Jackson Hole conference. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.70/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper falls on caution ahead of Fed symposium - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3971
  • SHFE Stainless Steel  Futures (yuan) - 17,765

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper climbs as investors return to market after slump - Copper prices jumped on Monday as investors took advantage of lower prices to buy, anticipating a recovery of global growth and the needs of a lower-carbon global economy will drive demand. - more

      Japan asks WTO to establish panel to deal with China’s AD measures on stainless steel products - According to the Japanese Ministry of Economy, Trade and Industry (METI), Japan officially asked the WTO to establish a panel under the WTO Agreement to resolve trade disputes regarding China’s anti-dumping (AD) measures on Japan’s stainless steel products, on the grounds that China’s measures are inconsistent with international agreements. - more

      Nickel miners need to increase Class 1 output to meet steel, EV demand: Bank of America - Nickel miners will need to increase their output of refined product, among other measures, to meet record stainless steel and growing electric vehicle demand, Bank of America Securities said in a research note on Aug.23. - more

      China slashes steel exports to Australia by 50 per cent to ‘wean’ itself off nation’s iron ore industry - It’s the only thing keeping Australia afloat. Now China’s moved to gut the iron ore market. - more

    Tesla May Adopt New Battery Tech To Prevent Vehicle Fires And Save Lives - A recent rumor suggests Tesla might soon change the type of battery used in its standard range Model 3 and Model Y, lowering cost and also fire risk. - more

  • Too-Big-to-Fail? GM and LG’s Ties Tested by $1 Billion Recall - more
  • Explainer: Are lithium-ion batteries in EVs a fire hazard? - more

      Shanghai airport terminal closure leads logistics firms to expect cargo delays - Freighter suspensions that began Friday remain in effect at Shanghai Pudong International Airport after the Shanghai Health Commission reported five new COVID-19 cases among cargo workers. - more

  • At Port of Los Angeles, More Boxes Leave Empty Than Loaded - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stock Rally Stalls as Investors Weigh Virus Risks: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Monday, August 23

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.37/lb ($18,460/tonne). Indicators at 6:00 am CST today show nickel trading around $.19/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and ended the week just below the 197,300 tonne level. Nickel is trading back above its 50 day moving average this morning, after falling below that level on Thursday. Metals are getting a boost this morning from the Euro trading higher, although that does not account for the  magnitude of the bounce. Traders haven't completed recovered from that one day dive quite yet, but they are very close. We linked to a short video a few months ago, explaining how Toyota discovered a flaw in its supply chain management after the 2011 earthquake, which was helping them survive the lack of chips that was crippling other automakers. Fate has finally caught up with them and now even they are laying off employees. Toyota is admired as a leader in supply chain management so this should be a warning to all those who feel they have a fool proof sourcing program in place. There has been a big push in this century to eliminate suppliers and put one's eggs in a single basket. This is a theory welcomed by the supplier who comes out on the winning end of the decision, but leaves a factory wide open to potential problems down the road. As many are now discovering. It's Monday and the last full week of August, and we are still looking for a sponsor for September. Stay safe out there and have a great week.
  • Average price of LME traded cash nickel so far this month - $8.71/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper climbs as investors return to market after slump - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3966
  • SHFE Stainless Steel  Futures (yuan) - 17,720
  • SFSA CASteel Reporter - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper rebounds, but demand concerns dominate market -  Copper prices bounced on Friday but remained on track for the largest weekly drop since June due to worries about demand in top consumer China, the possible withdrawal of U.S. central bank stimulus and rising COVID-19 infections. - more

      Taiwan’s Yieh Hsing & Walsin Lihwa benefit from surged stainless steel wire rod prices - Taiwan’s export price of stainless steel wire rods in July not only hit a six-year new high but also has risen by more than NT$28,000 since this year. - more

      Nickel Is Becoming a Battleground for Bets on Battery Future - The race to supply automakers with nickel to power their batteries is pitting two of the biggest names in mining against each other.  - more
  • Noront still sides with BHP's deal to acquire Ring of Fire deposits - more
      Iron ore slump justified by improving supply, China steel control: Russell - Iron ore’s rapid retreat in recent weeks shows once again that price pullbacks can be as disorderly as the exuberance of rallies, before the fundamentals of supply and demand reassert themselves. - more

      Asiamet facing Covid delays in Indonesia - Asiamet Resources updated the market on its BKM copper development project and the Kalimantan Suraya Kencana contract of work in Indonesia’s Central Kalimantan on Friday, reporting that over the past two months there had been a “very significant and rapid” increase in the number of Covid-19 infections across Indonesia. - more

      Madagascar mining minister resigns, citing online 'slander' - Madagascar's new mining minister Brice Randrianasolo resigned late on Thursday, citing online "slander" related to a legal case in which he was previously involved. - more

      Cargo Delays, Supply Shortages, and Increased Prices Likely to Continue Through Q4 - Supply chain managers seeking solutions to increase cargo throughput velocity are in for a rude awakening, says a prominent Syracuse University professor. - more

  • Record-Breaking Supply Chain Disruptions and Supply Shortages - more
  • Toyota Cuts Shows Covid Ravaging Even Best Supply Planners - more
    China: Plug-In Car Sales Almost Set A New Record In July 2021 - Plug-in electric car sales in China almost set another monthly record in July as the market is booming with multiple brands and models reaching high volume. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • 19% of NM's new virus cases were vaccinated - more
  • Stocks, Futures Climb; Dollar Dips With Treasuries: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Friday, August 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.33/lb ($18,360/tonne). Indicators at 7:00 am CST today show nickel trading around $.09/lb higher. Stockpiles of nickel stored in warehouses fell on Thursday and ended that session just over the 198,100 tonne level. Cancelled warrants hit 30% yesterday - for the first time in forever. Actually it was mid March 2020 - the month the pandemic moved to page one. Nickel's close yesterday was it lowest since July 8th. It has been a brutal five days for nickel, dropping from a close of $19,705 last Thursday, to $18,360/tonne last evening. Lot of factors you can pull out of the hat to blame. Covid is back on page one, although the botched pullout of Afghanistan, a country we had occupied for 20 years, actually pushed covid to story #2. The attempt by China to slowdown steel production, with only temporary success in the past, is showing evidence of having some success. Temporary again? We will see. Our word for the week was 'tapering'. Markets appear to expect the Fed to start "tapering' back on its cheap money, ie drug, lifeline sooner than expected, and this has the addicted markets shaking in their boots. In one form or another, tapering has been around since the Great Recession, as the Fed tries to guide the markets between recession and inflation. And it likely will be for another decade. But even the talk of messing with dosages, can make the addicted get the shakes. Hey - another week is in the history books Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $8.73/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper bounces, but demand concerns dominate mood - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.403
  • SHFE Stainless Steel  Futures (yuan) - 17,640
  • Moody's Weekly Market Outlook - pdf here
  • Steel Benchmarker Price History - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper slides as China, Fed and COVID-19 trigger sell-off - Copper prices dropped on Thursday to their lowest level in more than four months on a major selloff sparked by China reining in growth, the U.S. central bank signposting its intention to reduce stimulus and rising COVID-19 cases. - more

      US' stainless steel prices continue reaching new highs due to short supply - Affected by the short supply, the US cold-rolled stainless steel coils price rose further in the first half of August. Stimulated by this, US stainless steel mills increased their prices for the base and alloy surcharge. - more

      WBMS January to June 2021 Metals Balances - The nickel market was in deficit during January to June 2021 with apparent demand exceeding production by 41.1 kt. In the whole of 2020, the calculated surplus was 92.7 kt. - more

      Billionaire Forrest picks up 5% in takeover target Western Areas -  Mining billionaire Andrew Forrest has picked up a 5.3% stake in Western Areas, a filing showed on Friday, a day after IGO Ltd  confirmed it was in early talks to buy the Australian nickel producer. - more
  • Wyloo Metals not a huge fan of BHP muscling its way into the Ring of Fire - more
      Scrambling for Plate - Factors such as the pandemic, long lead times, high prices and credit woes have left industry  professionals reeling in their search for steel plate. - more
  • EU steel buyers fear higher prices subject to potential removal of US' Section 232 tariff  - more

      What’s going to happen to Afghanistan’s untapped mineral wealth worth $1 trillion? - The humanitarian conflict unfolding in Afghanistan after the Taliban grabbed power, has also pushed the mineral-rich nation into a crisis of ownership of resources, estimated to be worth billions of dollars. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Watch: Why Are West Coast Ports Suffering From Congestion? - more
  • Stocks Extend Drop as Traders See Off Gloomy Week: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Thursday, August 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed yesterday's trading session at $8.56/lb ($18,875/tonne). Indicators at 6:00 am CST today show nickel trading around $.21/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just below the 198,500 tonne level. If traders were trying to find the exits earlier this week, they apparently found a big one this morning. So far this morning, the $18,400 level is offering some support to nickel, but the market is definitely in a sour mood. Since peaking last Wednesday, nickel has been on the decline, and trading earlier this morning could best be described as a free fall. This appears to be part of a global sell off triggered by news the US FED would start reducing its rate of bond purchases. Stainless steel futures in China are trading at their lowest since mid last month, while stainless steel scrap continues to increase in value in the U.S. World Trade Organization is warning global trade may be peaking, while Europe tries to figure out how to mine an asteroid that could make every citizen of earth very rich. Yeah right. That's not how the world works, unless you're trying to sell something - like a very expensive asteroid mining project. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.75/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper slips below $9,000 for the first time since April - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.403
  • SHFE Stainless Steel  Futures (yuan) - 17,625
  • SMC Base Metals Special Monthly Report - pdf here
  • Minutes of the FOMC, July 27-28, 2021 - more
  • Manufacturing Outlook August 2021 - online here
  • Stainless Steel Infrastructure - A Lifetime of Savings - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Yesterday's market review - Copper hits lowest in almost two months as concerns linger -  Copper prices slumped to their lowest in nearly two months on Wednesday after recent weak economic data reinforced demand fears while a looming central bankers conference focuses attention on interest rates. - more

      Taiwan's stainless steel inquiries increase due to high nickel price - Since the LME nickel price came back to the US$19,500/ton level and remained stable in the past week, Taiwan's traders in the market confirmed that inquiries from foreign customers have come back to the local market. - more

       DMCI Mining shipments hits all-time high in H1 - DMCI Mining reported a record high shipments of 1.24 million wet metric tons (WMT) of nickel ore in the first semester of the year, a 45-percent increase from 853,000 MWT shipped during the same period last year. - more

      WTO says record global trade in goods might be nearing a peak - Global trade in goods might be close to plateauing—albeit at a record level—amid an outlook clouded by regional imbalances and coronavirus outbreaks that slow economic activity, the World Trade Organization said. - more

      Australia's IGO in talks to buy nickel miner Western Areas - Australian miner IGO Ltd said on Thursday it was in preliminary talks to acquire nickel miner Western Areas Ltd, as it raises its footprint in battery materials after buying a lithium stake earlier this year. - more

      U.S. Factory Output Rose by Most in Four Months, Lifted by Autos - Production at U.S. factories strengthened in July by the most in four months, rebounding above pre-pandemic levels and indicating manufacturers are coping with snarled supply chains and shortages. - more

  • How 8 Distributors Rapidly Boosted Sales and Profit Over the Past 16 Months - more
  • Fed Chairman: No Returning to Pre-Pandemic Economy - more
      The View from England: Europe’s galactic mining goals - (excerpt) This asteroid is estimated to contain metal worth more than US$10,000 quadrillion (or ten billion billion), which is enough to make everyone on Earth a dollar billionaire. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Walmart charters ships to ensure freight capacity, inventory for peak season - more
  • Stocks to Commodities Sink on Fed Taper Worries: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Wednesday, August 18

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.71/lb ($19,205/tonne). Indicators at 6:00 am CST today show nickel trading around $.08/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell below the 200,000 level yesterday and started today's session just over the 199,100 tonne level. If that fact offered the market any psychological value, it was apparently lost on the rush for the exits. Nickel continues to slide, and has dipped below the $19,000 tonne level this morning. That's a $500+/tonne drop already this week, and day 3 is still dark in our neck of the woods. You can make up your own reasons for the drop. Vale's contract agreement, Delta still spreading like wildfire, China's growth slowdown, or potential slowdown in the worldwide economic recovery. On the other side of the coin, you have declining nickel stockpiles, with production of stainless steel and EV's having a hard time keeping up with demand. Not exactly the most bearish circumstances out there, although the Delta strain and many government's around the world complete lack of credibility, starting to raise growth concerns. Chinese officials have stated they will start a phased re-opening of operations at Ningbo, as long as no more dock workers test positive for covid. Covid has been, and remains, the proverbial 'fly in the ointment'. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $8.76/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hits one-month low on demand and interest rate fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.40
  • SHFE Stainless Steel  Futures (yuan) - 18,120
  • Industrial Production: Manufacturing: Durable Goods: Raw Steel - chart here
  • Manufacturers Sales - chart here
  • US Economic Indicators: Industrial Production - pdf here
  • US Economic Indicators: Manufacturing Production & Capacity by Major Industries - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Aluminium higher on weak China supply and U.S. shortages - Aluminum prices pushed higher on Tuesday on renewed supply worries over power issues in top producer China and shortages in the United States because of shipping delays. - more

      Vale unlocks the next phase of Voisey’s Bay - One of the largest nickel deposits in the world has been given a new lease on life. - more

      Historic steel price rally celebrates one-year anniversary - It’s time to wish a hearty happy birthday to the steel price rally that was born a little more than one year ago. - more

     EV Makers Are Inking Mining Deals to Secure Battery Supplies - Electric-vehicle makers are pushing for an intermediary role in mining to secure supplies of key battery metals, according to the head of Wheaton Precious Metals Corp. - more

      Courtesy AISI - In the week ending on August 14, 2021, domestic raw steel production was 1,869,000 net tons while the capability utilization rate was 84.7 percent. Production was 1,476,000 net tons in the week ending August 14, 2020 while the capability utilization then was 65.9 percent. The current week production represents a 26.6 percent increase from the same period in the previous year. - more

      Imports Sustain Surge at Port of Los Angeles as Exports Continue to Crash - More than a year after U.S. consumer purchasing began to build momentum after COVID-19 shutdowns, the cargo boom continues at the nation’s top port for containerized cargo. - more

  • Impact from Ningbo Closing Less Than Feared, as Reopening is Expected - more
  • ISM Continuing Port Disruptions Cause ‘Bullwhip’ Concerns - more

       Local View: Minnesota's minerals key to our clean-energy future - From the column: "Twin Metals will be the first mine in the state of Minnesota to adopt battery electric vehicle technology, (allowing) us to reduce our onsite greenhouse gas emissions by 65%.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • BHP: Mining giant to leave London's FTSE 100 for Sydney - more
  • Study links wildfire smoke to COVID case spikes and deaths - more
  • U.S. Futures Slip Amid Caution Over Covid, Fed: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Tuesday, August 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.85/lb   ($19,510/tonne). Indicators at 6:00 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell sharply on Monday and ended the day just under the 200,400 tonne level. Nickel traded within a $200/tonne range yesterday, rather quiet by recent standards. Today, nickel is only slightly higher, reflecting another potential day of waiting and wondering what the future might bring. The Ningbo port remains partially closed for a seventh day today. Bloomberg is reporting the delays at west coast ports in the U.S. are building again, with wait times averaging around six days. BHP is looking to get out of the petroleum business, so it can concentrate its resources on EV minerals like nickel. Amazing turn around in this companies attitude toward nickel from a few years ago. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.71/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper retreats on demand worries after Chinese data - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.40
  • SHFE Stainless Steel  Futures (yuan) - 18,380

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper retreats on demand worries after Chinese data - Copper prices dropped on Monday after weak economic data from top metals consumer China fueled worries about demand. - more

      China's July crude steel output falls nearly 8% vs June on production controls -  China's crude steel output fell in July to the lowest monthly level since April 2020 as authorities stepped up production controls designed to meet a target of keeping output unchanged from last year as Beijing bids to cap carbon emissions. - more
  • Chinese steel futures fall on subdued economic data - more

      Metal Shipments Increased at Slower Rates Compared to the First Half of 2021 - The dramatic increases in metals shipments of the last six months slowed across the board. Canadian steel shipments actually declined slightly. - more

       Early data for 2021 show continued recovery growth in EU steel market - EU28 apparent steel consumption grew (+3.6%) in the fourth quarter of 2020 and again in the first quarter of 2021 (+0.9%). - more

      BHP moves to shed oil and gas for nickel, tapping into EV demand - Anglo-Australian BHP Group on Monday revealed it is in talks to sell its petroleum business in a deal potentially worth 20 billion Australian dollars ($14.7 billion) as the global push toward decarbonization spreads to the traditionally carbon-intensive commodities sector. - more

      FedEx outlines peak surcharges for Ground, Express that will extend into 2022 - FedEx will increase various surcharges for peak season in line with rival UPS, setting up another costly holiday season for companies shipping high volumes with the major parcel carriers. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • CPEC, rare earths: With US out, China set to scale up ambitions in Afghanistan - more
  • Stocks, Futures Slide on Virus Angst; Dollar Gains: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Monday, August 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.92/lb ($19,655/tonne). Indicators at 6:00 am CST today show nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and ended the week just over the 202,200 tonne level. $19,700 has apparently become the new line of resistance for nickel, as it has banged its head against that level numerous times over the past three trading sessions. Currently it is trading lower, which has become a Monday custom after another weekend full of covid news apparently spooks markets. Worth watching is how long the world's third busiest port in China stays partially closed due to a single case of covid. Some of the largest shipping companies are already re-routing their ships to other ports. China has a zero tolerance for positive cases of covid and taking actions like this are going to add additional strain to already weakened supply chains. We start the second half of August today, with the 'unofficial' end of summer just a few weeks away. Stay safe out there and have a successful week.
  • Average price of LME traded cash nickel so far this month - $8.75/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper climbs as dollar dented by sinking U.S. consumer sentiment - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3995
  • SHFE Stainless Steel  Futures (yuan) - 18,535
  • U.S. Economy in a Snapshot - more
  • Top steel manufacturers in the world - more
  • OSHA Protecting Workers: Guidance on Mitigating and Preventing the Spread of COVID-19 in the Workplace - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper climbs as dollar dented by sinking U.S. consumer sentiment - Copper prices rose on Friday as the dollar weakened after a sharp drop in U.S. consumer sentiment fed views that the Federal Reserve could hold off on tapering stimulus in the world’s largest economy. - more

      China’s steel output cuts still small despite sharp Tangshan reductions - China’s steel output cuts remain at a smaller scale so far in 2021 even as the country’s largest steelmaking city Tangshan continues to target aggressive reductions for the rest of the year, a development that will likely result in oversupply and pressure prices in the near term. - more

      Nickel Production on the Rise - After looking at the raw materials chrome and moly in the last two editions we will complete the set with a review of nickel in this issue. We will look at the two main stages of nickel processing: – mine production and then smelter/refinery production, which is the product which is shipped to stainless producers and other users. Stainless accounts for well over half of all nickel production. - more

      Higher shipments push FNI income to P640.8-M in H1 - Thanks to higher shipments, Global Ferronickel Holdings, Inc. (FNI), the country’s second-largest nickel ore producer, saw its income surging to P640.8 million during the first half of the year, compared to the P195.8 million it had in the same period last year. - more

      Massive China Port Shutdown Raises Fears of Closures Worldwide - A Covid outbreak that has partially shut one of the world’s busiest container ports is heightening concerns that the rapid spread of the delta variant will lead to a repeat of last year’s shipping nightmares. - more
  • Maersk Cancels Six Ningbo Calls as World Watches for China’s Next Move - more
  • Container Premiums: Ningbo port issues create risk for even higher surcharges - more
  • China’s zero-Covid policy is so strict that it shut down a whole shipping terminal after just one case - more
  • Global supply chains are being battered by fresh COVID surges - more

      Phytomining: Mining Battery Metals With Plants - Researching the potential for plants to pull battery metals out of the ground has received backing from the Queensland Government. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • (April) Why the US will never leave Afghanistan - more
  • The return of FABTECH signals return to normalcy for manufacturing industry - more
  • Stocks, Futures Fall as Traders Brace for Powell: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Friday, August 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.94/lb ($19,705/tonne). Indicators at 7:10 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today, just under the 202,900 tonne level. Nickel closed yesterday's session at its highest this month, and while the Euro is also trading stronger this morning, nickel is slightly lower.  It's Friday - the 13th! Stay safe out there and enjoy your weekend.
  • Average price of LME traded cash nickel so far this month - $8.73/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises on Chilean supply risk as workers go on strike - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4121
  • SHFE Stainless Steel  Futures (yuan) - 18,535
  • Moody's Weekly Market Outlook - pdf here
  • Producer Price Index: Steel Wire, Stainless Steel - more
  • Producer Price Index: Corrugated Paperboard in Sheets and Rolls - more
  • Producer Price Index: Corrugated and Solid Fiber Box Manufacturing - more
  • Mining Zimbabwe August 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Nickel climbs on higher risk appetite and demand boost  - Nickel hit its highest in two weeks on Thursday after U.S. inflation figures cooled talk of Fed tapering, while strong consumption and falling stocks underpinned its appeal. - more

      Column: U.S. infrastructure bill targets critical minerals supply - The United States’ $1 trillion infrastructure package is undoubtedly good news for industrial metals. - more

      Japan’s Pacific Metals: Stainless steel industry has indication of recovery - Pacific Metals Co., the largest ferronickel producer in Japan, reported that its shipment of ferronickel increased in the second quarter of this year, implying a recovery in the stainless steel production of both domestic and foreign markets. - more

      Twin Metals says it will use an electric vehicle fleet; opponents aren’t swayed - Twin Metals Minnesota has marketed its controversial plan for a copper-nickel mine near the Boundary Waters Canoe Area Wilderness (BWCA) as more environmentally conscious than your average mine. - more

      Differentiating in Industrial Distribution With Software - Distributors typically rely on their value-added solutions to help them stand out. But those solutions are often only as good as the software that powers them. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • See Tesla BEV Sales Comparison With Other OEMs (2017-2020) - more
  • China’s zero Covid-19 approach sparks debate about long-term impact on economy - more
  • Percent Change in U.S. County Populations 2010 - 2020 - more
  • Europe Stocks Near Longest Win Streak Since 1999: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Thursday, August 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.78/lb ($19,350/tonne). Indicators at 6:00 am CST today show nickel trading around $.14/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just over the 204,000 tonne level. of nine sessions so far this month, stockpiles have fallen every day, with five sessions seeing drops of 1000+ tonnes and two of those, 2000+ tonne declines. Unless the rate suddenly changes, we should see LME stockpiles fall below 200,000 tonnes next week. China is seeing container backup's again due to covid, this time at two separate container ports. Both nickel and stainless steel jumped in overnight trading in Shanghai, while Chinese statistics show 200 and 300 series stainless production slipped in July, while 400 series production increased. Inventories of stainless there are also reported as lower. And a little religion for you today. The verse Ecclesiastes 8:15 comes to mind today - Eat, drink and be merry, for tomorrow is Friday the 13th. What? Ok, maybe that's not quite 'Biblical'. Stay safe out there and have a great Thursday.
  • Average price of LME traded cash nickel so far this month - 
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai nickel up more than 5% on supply worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4121
  • SHFE Stainless Steel  Futures (yuan) - 18,800
  • The annual inflation rate for the United States is 5.4% for the 12 months ended July 2021, matching the period ending June, according to U.S. Labor Department data published August 11.
  • U.S. Truck Tonnage - chart here
  • Simpson Spence Young (shipping) Mid Year Outlook 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper recoils on Chile mine deal to avert strike - Copper prices retreated on Wednesday, weighed down by dwindling chances of a strike at the world’s biggest copper mine. - more

      Iron ore sell-off resumes, but stainless steel shines -  Iron ore futures fell on Thursday, with the Dalian benchmark hovering around a more than four-month low hit earlier this week on concerns over steel output controls in China and signs of economic slowdown in the world's top metal consumer. - more

      Major container ports in eastern China see worsening congestion after COVID cases - Congestion off China’s top two container ports Shanghai and Ningbo is worsening following the shutdown of a container terminal in Ningbo where a COVID-19 case was detected this week. - more

      China will likely succeed in crashing Australia’s iron ore price - You may be confused thinking this is a good time to buy iron ore. After all, Australian magic dust has dropped a quarter in price over the past month. Ain’t it the idea of ​​buying low (and selling high?) - more

      Thyssenkrupp will decide on how it plans to further develop its steel business - Thyssenkrupp will decide on how it plans to further develop its steel business, Europe’s second-biggest, in 2022, Chief Financial Officer Klaus Keysberg said on Wednesday. - more

      Steel sector emissions must fall 75% under 2C scenario - Carbon emissions in the steel sector must fall by 75% from today’s levels to limit global warming to within 2 degree Celsius (C), says Wood Mackenzie, a Verisk business. - more

      The Secret to Strategic Sales Planning - Today, sales staff can understandably get lost in the mire of data. Simplifying the organization with accurate planning is the ultimate goal. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Fluctuate With U.S. Futures; Copper Climbs: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - 1  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more

Wednesday, August 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.59/lb ($18,930/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and ended that session just below the 205,500 tonne level. Shanghai traders gave up trying to lead LME nickel traders lower, and decided to join the latter in closing higher overnight. LME traders, on the other hand, are trading slightly lower this morning, as the $19,000 tonne level puts up some psychological resistance. The Dollar continues to strengthen against the Euro, adding negative pressure, as it has the entire month of August. Reuters quoted Ole Hansen, the head of commodity strategy at Saxo Bank in Copenhagen, and we believe he hits the hammer on the head in describing the market this month (so far anyway). He stated "The market has run out of fuel to keep the rally going, but at the same time the market still believes in the long-term upside potential so that's keeping selling interest muted." Volatility anyone? Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $8.73/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper recoils on Chile mine deal, firmer dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4074
  • SHFE Stainless Steel  Futures (yuan) - 18,575
  • USGS Molybdenum in May 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Chile supply concerns help copper bounce - Copper bounced on Tuesday as worries about supplies from top producer Chile gathered pace, while concerns about Chinese demand and a firmer dollar tempered optimism for higher prices. - more

      Japan's FeNi producer hints at stainless steel recovery - Japanese ferro-nickel producer Pacific Metals reported higher ferro-nickel shipments in the April-June quarter, hinting at a recovery in domestic and overseas stainless steel production. - more

      Low supply continues to push up European stainless steel prices - The prices of cold-rolled stainless steel in the European market have risen by EUR 50/ton in the past week in early August due to the tight supply situation. - more

      Report: “Staggering recovery year” continues for metalworking industry - Data from FMA's Q2 consumption report shows that fabrication, forming job shops remain optimistic despite labor shortages, high steel costs - more

      Tesla confirms that 100% of its scrapped batteries are recycled and 0% end up in landfills - Tesla’s business is built on the strength of the company’s battery innovations. - more

      Rs 4,077 Cr deep ocean mission for exploration: Govt in RS - The Centre has approved the Deep Ocean Mission (DOM) to be implemented by the Ministry of Earth Sciences at a total budget of Rs 4,077 crore for five years during the period 2021-2026, the Rajya Sabha was informed on Tuesday. - more

      Jeff Bezos, Bill Gates and Michael Bloomberg join forces to mine for raw materials in Greenland - KoBold Metals, a mineral exploration company backed by Bill Gates, Jeff Bezos, Michael Bloomberg and Ray Dalio, has entered into a joint venture with London-based mining firm Bluejay. - more

  • Is there unrealised value in the majors? This Bridge Street guru suspects so - more
      5 Minutes With ID: Scott Camp on the Disconnect Between Buyers, Suppliers and Incentives - Atlas International Trade Group president Scott Camp, a 23-year Fastenal leadership veteran, discusses blind spots many distributors have with procurement and inventory management. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Slip Ahead of Inflation Data; Dollar Gains: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - more  2  3 
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more


Tuesday, August 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.44/lb ($18,610/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today's session just over the 205,600 tonne level. Nickel is recovering some of yesterday's loss this morning, but there doesn't seem to be much enthusiasm behind the bounce. Yesterday's 3+% drop appears to have mirrored Shanghai's 3+% drop from the prior evening. While the evidence clearly shows the reverse is the norm, every once in awhile if SMM makes an unusual move, LME traders follow suit, wondering if the latter knows something they don't. Overnight SMM traders again ended lower, but LME traders so far today, are not marching in step to the Chinese beat. The Euro continues to fall against the U.S. Dollar, so the negative pressure that puts on base metals traders, continues. Stay safe out there and enjoy your day!
  • Average price of LME traded cash nickel so far this month - $8.77/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Chile supply concerns help copper bounce - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4074
  • SHFE Stainless Steel  Futures (yuan) - 18,775
  • BLS Job Openings and Labor Turnover - June 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Demand doubts and dollar weigh on copper - Copper prices fell to their lowest in more than two weeks on Monday as a firm dollar and demand worries weighed on sentiment, but losses were contained by the potential for a strike at the world’s largest copper mine. - more

      I-Shou Lin: Moderate price increase to meet growing stainless steel raw materials prices - China has raised export tariffs on ferrochrome since August 1 from 20% to 40%. Market participants are concerning whether it will affect Taiwan’s stainless steel industry or not. - more

      June Steel Shipments Up 33.3 Percent From Prior Year -  The American Iron and Steel Institute (AISI) reported today that for the month of June 2021, U.S. steel mills shipped 8,031,516 net tons, a 33.3 percent increase from the 6,023,524 net tons shipped in June 2020. - more

      Courtesy AISI - In the week ending on August 7, 2021, domestic raw steel production was 1,872,000 net tons while the capability utilization rate was 84.8 percent. Production was 1,476,000 net tons in the week ending August 7, 2020 while the capability utilization then was 65.9 percent. The current week production represents a 26.8 percent increase from the same period in the previous year. - more

      ID's 2021 Salary Report:
  • Executives - more
  • Mid-Level Management - more
  • Sales & Sales Management - more

      Getting to Know BEA’s International Statistics - Did the U.S. current account deficit grow or shrink last year? What products make up the largest share of U.S. goods exports? - more

  • How inventory errors lose money at metal fabrication shops - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Climb as U.S. Futures Steady; Oil Rebounds: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • Iron Ore Price Graph - more  2  3 
  • US Economy At a Glance - more / indicators here
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more


Monday, August 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.71/lb ($19,210/tonne). Indicators at 6:00 am CST today show nickel trading around $.20/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started the week just over the 207,600 tonne level. Nickel is tradiong sharply lower this morning. A stronger US Dollar over the past week is adding negative pressure on base metals, but this does not explain today's dip. Chinese demand is expected to slump as the pent up demand from covid closures peak, but we suspect if this is true, things will return more to a normal pace, and not necessarily 'slump'. China is still attempting to slow down steel production in that country, but its success in past years, does not leave us believing they will be much more successful this time around. The Achilles heel overshadowing the market is the wildfire spread of the Delta variant. This nervousness seems to steer markets more on Monday's than any other day of the week. Even Goldman is now forecasting a slowdown in China's growth, due to Delta's popping up in that country (more here). What effect this will have on nickel and stainless steel consumption is anyone's guess, but with the backlog of stainless steel orders to be filled, and growth in the EV industry worldwide, the demand for the two is, and will for an extended period at least, remain strong. With the threat of covid potentially affecting the mining and logistics of transporting nickel, and falling stockpile numbers, the supply parameter seems a lot more iffy than demand - and that should keep prices for both strong. Lots of reports below. Acerinox, reportedly the worlds largest producer of stainless steel, recently reported the second quarter of 2021 was its best since 2007. Stay safe out there and have a great week. And don't let this week's Friday the 13th make you nervous.
  • Average price of LME traded cash nickel so far this month - $8.83/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Demand doubts and dollar weigh on copper - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4069
  • SHFE Stainless Steel  Futures (yuan) -  18,600
  • July 2021 US Employment Report - pdf here
  • Moody's Analytics - Jobs and Talk of the Taper - pdf here
  • Monthly Wholesale Trade - pdf here
  • US Exports: Stainless steel in ingot form - more
  • US Exports: Stainless steel >600mm wide - more
  • Recycling Today August 2021 - online here
  • 2018 Report -  The Effects of Imports of Steel on the National Security - pdf here
  • Cleveland Cliffs August 2021 Investor Presentation - pdf here (check out HRC $ graph on page 10)
  • Allegheny Technologies August 2021 Investor Presentation - pdf here
  • Outokumpu First Half 2021 Results Presentation - pdf here (opens w/ external reader - note page 7)
  • Imports of Nickel in the United States decreased sharply in May of 2021 - chart here
  • PPI Detailed Report June 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper edges lower as U.S. payrolls lift the dollar - Copper prices fell on Friday as solid U.S. jobs data pushed the dollar sharply higher, making metals more expensive for buyers with other currencies. - more

      US’ stainless steel prices driven by tight supply - The current US stainless steel inventory is at a low level. The production failed to catch the rapid rebound of steel consumption after the impact of the COVID-19 epidemic, leading to a serious imbalance between supply and demand. - more

      Zimbabwe bans chrome ore exports to boost ferrochrome industry - Zimbabwe has banned the export of raw chrome with immediate effect in a bid to support the domestic ferrochrome industry, minister of information Monica Mutsvangwa said on Tuesday. - more
  • Region's biggest steel plant roars to life - more
  • World Nickel King: He may be China's deepest hidden boss, earning 260 billion in the war! - more
      Billionaire-backed mining firm to seek electric vehicle metals in Greenland - Mineral exploration company KoBold Metals, backed by billionaires including Jeff Bezos and Bill Gates, has signed an agreement with London-listed Bluejay Mining to search in Greenland for critical materials used in electric vehicles. - more

    New EV battery designs unlikely to dampen metals demand, miners say - Mining companies say they do not fear a plan by China’s CATL to make an electric vehicle (EV) battery without lithium or other key metals because the new design will have a limited range and more-powerful rival battery technologies will gobble up minerals supply in coming years. - more

      Keough: Employment Problems Ahead for Businesses - By some estimates, 1 in 4 workers is planning to look for opportunities with a new employer once the threat of the pandemic has subsided. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Dip as Commodities Fall on Stimulus, Virus: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Friday, August 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.83/lb ($19,470/tonne). Indicators at 7:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and ended that session just under the 208,600 tonne level. Nickel ended a three day skid Thursday, gaining back more than it had lost on Wednesday. Reuters is reporting a fire took place at an Indonesian nickel smelter, although information, at this time, is slightly confusing. The Reuters reporter states it has seen a video that shows a smelter engulfed in flame, while a spokesperson reports "no production was impacted". It doesn't take a rocket scientist to figure out, as the old song goes, one of these things is not like the other". Chinese ports are closed again - although closures for Typhoons are typically short. Unless its a really strong Typhoon. And finally, we linked to a story because, honestly, we rarely get to post their flag and the story is a tad weird, even for the nickel industry. Scientists are saying the green explosion in the sky that freaked out Turkey's residents, was caused by nickel in a meteor. Really - green? Was the fire in Indonesia green? Sounds like a government cover up to us. What do we call aliens? Little 'pink' men. We think not. Stay safe out there this weekend, and have a relaxing and enjoyable few days off.
  • Average price of LME traded cash nickel so far this month - $8.82/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper gains as world's biggest mine preps for strike - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - more
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3571
  • SHFE Stainless Steel  Futures (yuan) -  19,320
  • Nornickel Results First Six Months 2021 - pdf here
  • Outokumpu half-year report - pdf here
  • June 2021 Trade Gap is $75.7 Billion - more
  • July 2021 Fastener Distributor Index - pdf here
  • U.S. International Trade in Goods and Services - pdf here
  • U.S. Imports for Consumption of Steel Products June 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper snaps four-day losing streak - A bullish mood on U.S. markets pushed copper slightly higher on Thursday, ending a four-day losing run triggered by concerns over the demand outlook from top consumer China. - more

      China’s industrial slowdown killing the commodity rally - One of the biggest drivers of the surge in metals prices this year, the world’s top commodity consumer China, is showing signs of a slowdown in demand, which could drag down copper and iron ore prices for the rest of the year after a blistering rally in the first half. - more

      Indonesia industrial park says no casualties after nickel smelter fire -  A fire broke out at a nickel smelter in Indonesia’s PT Indonesia Morowali Industrial Park (IMIP), a spokesman for the industrial park said on Friday, adding there were no reports of casualties or any impact on production.A video seen by Reuters showed a nickel smelter at IMIP being engulfed in flames. - more

      Typhoons Pose Latest Supply Chain Threat as China Ports Shut - Extreme weather in China is becoming the latest challenge to global supply chains, as a heavy typhoon season threatens to further delay goods stuck at some of the world’s busiest container ports. - more

      Murmansk boosts exports to $4.7 billion. Only 3% goes to neighboring Norway - It is the powerful mineral and metal industry that overwhelmingly dominates the economy of the Murmansk region. - more

      Nickel Asia earns P2.7 billion on higher ore sales - Nickel Asia Corp. incurred a 579% increase in its attributable net income for the first six months of the year to P2.73 billion due to stronger ore sales prices and sales volume. - more

      How manufacturers can thrive when prices rise - Soaring material prices. Labor shortages. Stressed employees. Who thought exiting the pandemic would be as tough for fabricators as being in it? - more

      Fastenal's Daily Sales Resume Strong Growth in July - Fastenal reported its July sales results on Thursday, showing a strong daily sales growth month for the distributor after an underwhelming June and May. - more

      Residents in Turkey are horrified as a strange explosion paints the sky bright green. - Residents in Turkey are horrified as a strange explosion paints the sky bright green. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Futures Steady Before Payrolls; Treasuries Dip: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Thursday, August 5

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.73/lb ($19,249/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just shy of the 209,900 tonne level. Nickel closed lower for a third consecutive session yesterday, but the bear is having a hard time selling tis new found opportunity. Stainless steel prices in China are choppy and volatile, but remain near recent highs. Local 6500 members voted overwhelmingly to accept the new contract with Vale in Sudbury, but company officials warn it could take many weeks to get back to full production. Russia produced 5% less stainless steel in the first half of 2021 than it did in the fist half of last year, and following Russia's lead, Brazil looks to increase their mining tax on exports. Lot of debate about the failure's of 'Just in Time' inventory control going on these days, and we link to a video below that tells a different version. Stay safe out there and have a great Thursday.
  • Average price of LME traded cash nickel so far this month - $8.84/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls on firm dollar, virus surge sparks demand fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3571
  • SHFE Stainless Steel  Futures (yuan) -  19,000

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper slips as dollar climbs, focus turns to U.S. jobs data - Copper prices eased on Wednesday as the dollar strengthened ahead of U.S. jobs data later in the week which is expected to give more direction on the timing of stimulus tapering. - more

      Strike is over: Local 6500 members vote 85% to ratify new deal - Steelworkers Local 6500 members voted 85 per cent in favour of a new deal with Vale, ending a strike that began June 1. - more
  • Vale warns Canada nickel ramp-up will stretch into next quarter - more
      Russia's stainless steel output down in H1 y-o-y - According to the Russian Federal State Statistics Service (Rosstat), Russia produced approximately 100,000 tons of stainless steel in the first six months of 2021, going down by 5% from the same period a year ago. - more

      The case for nickel – a crucial metal in the Green Energy Revolution - “Tesla will give you a giant contract for a long period of time if you mine nickel efficiently and in an environmentally sensitive way,” said Tesla CEO Elon Musk in July 2020. - more

      Impending Brazil mining royalty hike confirms industry concerns - The rapporteur of Brazil’s tax reform proposal has announced plans for mining tax hikes, confirming industry concerns. The proposal by Celso Sabino is expected to be voted soon and includes a royalties, or CFEM tax increase to 5.5% from 4%. - more

    “Founding Father” of Lithium-Ion Batteries Helps Solve Persistent 40-Year Problem With His Invention - Late 1970s, M. Stanley Whittingham first explained the concept of rechargeable lithium-ion batteries. This is the result of sharing the 2019 Nobel Prize in Chemistry. - more

      Commodities bounce brings bonanza to Japan's trading houses - Japan's trading houses are riding a commodities boom as major economies recover from the pandemic, with Itochu this week reporting record quarterly profit and three others raising their earnings forecasts. - more

      Explainer: What China keeps in its secretive commodity reserves - For the first time in a decade, China has released some of its strategic metal stocks to try to dampen a price rally hurting manufacturers. It has also released coal and imported corn reserves to cool prices, while buying pork to prop up that market. - more

      The Causes of 2021's Shortages (It's Not Covid) - 20 minute video here

   Other News

  • Reuters The Day Ahead - pdf here
  • A Doomsday COVID Variant Worse Than Delta and Lambda May Be Coming, Scientists Say - more
  • Stocks Rise, Futures Steady as Earnings Roll In: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Wednesday, August 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.79/lb ($19,375/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and ended that session just below the 210,200 tonne level. Nickel is trading higher this morning, but it is facing some headwinds. The Euro is trading lower this morning, making base metals more expensive to trade, and the news that Vale reached a tentative agreement with its Sudbury union to end a two month plus strike, will help alleviate some future supply issues. Not a lot of news today, but our last article, at first glance is an eye roller, but once you read it, you might be left scratching your head wondering if someone is pulling your leg, or if you should invest in Malaysian weeds. And of course, stainless steel prices continue to increase in Asia, as they are everywhere. Stay safe out there and happy hump day!
  • Average price of LME traded cash nickel so far this month - $8.86/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper rises on weak dollar, virus concerns dent demand outlook - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3551
  • SHFE Stainless Steel  Futures (yuan) -  19,240
  • Stainless Steel in Sports and Leisure Equipment - pdf here
  • Manufacturers' Shipments, Inventories, and Orders - pdf here
  • US Economic Indicators: Durable Goods Orders & Shipments - pdf here
  • Metalforming Magazine August 2021 - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Copper skids on fears that Delta variant could hit demand - Copper prices declined for a third session on Tuesday on worries that the rapid spread of powerful COVID-19 variants could spur further lockdowns and curb demand for industrial metals. - more

      Vale reaches tentative agreement with Sudbury nickel miners' union - A union representing striking workers at Vale SA’s nickel mine in Sudbury, Canada reached a tentative agreement to settle an ongoing labor dispute that saw 2,500 workers walk off their job on June 1, hitting the Brazilian miner’s production. - more

      Taiwan’s stainless steel market prices hit new high amid soaring raw material prices - Driven by soaring international nickel and ferrochrome prices and continuously rising export offers from Indonesia Tsingshan, Taiwan’s upstream suppliers’ prices and market prices of stainless steel rose greatly in August. - more

      BHP to expand nickel operations to meet soaring demand - BHP will make a final investment decision on a major expansion of the processing plant at its Mt Keith nickel mine in Western Australia as it invests further in battery metals to meet expected soaring demand. - more

      Nickel 28: Ramu Asset Produces 16,578 Tonnes Contained Nickel In H1 2021 - Nickel 28 Capital Corp this morning revealed the operating results for its flagship asset, the Ramu Nickel-Cobalt mine in Papua New Guinea. - more

      Plant-based metal? The mining industry could get a sustainable makeover. - Malaysia’s Kinabalu Park, which surrounds Mount Kinabalu, the 20th-largest peak in the world, is home to a nickel mine like none other. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • More Complaints Against ‘Profiteering’ Carriers Expected as Shippers’ Costs Soar - more
  • Stocks Rise, Futures Steady as China Concerns Ease: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Tuesday, August 3

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.85/lb  ($19,505/tonne). Indicators at 6:00 am CST today show nickel trading around $.11/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell sharply on Monday and ended that session just under the 211,100 tonne level. The last time we saw stockpiles under the 200,000 level was early February 2020, but we look to hit that level sometime this month. Nickel is trading lower for a second day, and while the Reuters reporter is blaming covid again, we suspect it has more to do with the slowdown in China's growth. Either way, volatility could be the word for the month, as the Delta variant spreads around the world.  Another  ship carrying nickel ore was grounded in the Philippines over the weekend. In this case, they know why and the crew stayed with the ship after it grounded. Wonder if they ever identified the missing crew from the loaded nickel ore ship they found grounded and abandoned earlier this summer? Stay safe out there and enjoy your Tuesday.
  • Average price of LME traded cash nickel so far this month - $8.95/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper skids on fears about Delta variant hitting demand - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3551
  • SHFE Stainless Steel  Futures (yuan) -  18,975
  • Global Economic Indicators: Global Manufacturing PMIs - pdf here
  • ISM July Manufacturing PMI - pdf here
  • World Manufacturing PMI - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper dips on demand worries after weak factory data - Copper prices slipped on Monday, weighed down by worries about demand after weak factory data from the United States and top metals consumer China. - more

      Nickel Miners News For The Month Of July 2021 - Welcome to the nickel miners news for July. The past month saw higher nickel prices and plenty of good news from the nickel miners. - more

      Bulk carrier with nickel ore aground, abandoned - Bulk carrier AMBITION JOURNEY suffered engine failure and drifted aground in shallow waters of Sulangan Island, Eastern Samar, Philippines, early in the morning Aug 2. - more

      Sibanye-Stillwater to acquire Eramet’s nickel processing facilities in France - Sibanye-Stillwater announced that it has entered into an exclusive put option agreement with French mining group Eramet SA for the acquisition of 100% of the Sandouville nickel hydrometallurgical processing facility, located in Normandy, France for €65million ($77m) cash. - more

      Courtesy AISI - In the week ending on July 31, 2021, domestic raw steel production was 1,876,000 net tons while the capability utilization rate was 85.0 percent. Production was 1,350,000 net tons in the week ending July 31, 2020 while the capability utilization then was 60.3 percent. The current week production represents a 39.0 percent increase from the same period in the previous year. - more

      Western Australia takes step-up in battery chemicals production - Western Australia is preparing to take a bigger slice of the booming global battery market, forecast to grow to $150 billion by 2030, as it moves beyond mining lithium and nickel into chemical processing. - more

      Will escalating metals prices start to wipe out fab shops? - It stings when you’re told that you don’t matter. - I imagine that’s the way metal fabricators feel right now as they face unprecedented metals price inflation and even availability in some areas. - more

   Other News

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here


Monday, August 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.87/lb ($19,545/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and ended August just over the 213,100 tonne level. That was a one month decline of 18,378 tonnes and a YTD decline of 34,860 tonnes.  Nickel prices are slightly higher this morning, most likely courtesy a higher Euro. SMM nickel rose overnight, while Chinese steel and stainless steel indexes took a hit on continued threats by China to cut down on steel production. This is an ongoing threat and honestly, we just don't see it. 2021 is not the first year that Chinese steel companies have been threatened by their government. And yet, except for the closure of some outdated plants and some restrictions on electricity usage (more to cut down on pollution than curb production) in years past, we have seen little success on the part of the Chinese government to actually slow down their steel producers. And why do we think they will have little luck now? Chinese metals site Mysteel is reporting 304 cold rolled coil 2mm stainless steel sold by Taiyuan Iron and Steel Co in Wuxi on July 30th was priced at 21,400 yuan. This compares to 14,200 yuan this time last year, with over 40% of the one year increase coming in the last three weeks. July, for stainless steel end users worldwide, was brutal. For producers, a profitable month. Your average material prices for July and how they compared to June are as follows- Nickel - $8.54/lb compared to $8.14/lb in June; Chromium - $4.50/lb compared to $4.00/lb; Molybdenum - $18.80/lb compared to $17.83/lb; Iron - steady at $1.04/lb. So how fast is the Delta variant infecting Americans? Last Friday the number of new infections recorded rose by over 100,000 for the first time since February. It almost hit 100,000 the day before, so this was not a fluke. That same day, the seven day average came in at 77,000. That's an incredible increase in just one week. Florida recored the most new cases it has seen in a single day since the pandemic started, and Saturday, recorded more new cases than second place Texas, third place California, fourth place New York, fifth place Missouri, sixth place Oklahoma, and seventh place Arizona - all recorded 'combined'. That is one day, but it gives one an idea of how fast this new strain of covid is spreading. The immediate effect on commodity prices will likely be minimal, with short term market corrections possible on demand concerns. As Delta spreads worldwide, and countries struggle with their economic recovery, balanced with the health of their work force, we could potentially see more disruptions to an already strained supply chain. Unless demand falls faster than available supply, and honestly, we don't see that happening anytime soon, then further supply disruptions could mean even higher nickel prices. Either way, it could be a very volatile month. China's manufacturing PMI came in at 50.4 today, implying production is barely growing in that country, so who knows. Opinions, of course, are like armpits. Everyone has a couple, they serve little purpose, and only the bearer thinks they smell good. Please take ours with the proverbial grain of salt. We welcome back P.A. Inc as our August banner sponsor, and ELG Metals, who sponsored a side banner add for the entire year. We thank them both for their support and they make it possible for the news site to be updated daily in August. May this new month be a prosperous, and healthy month for you and yours.
  • Average price of LME traded cash nickel so far this month - 
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper claws higher on softer dollar, hopes for China stimulus - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.3548
  • SHFE Stainless Steel  Futures (yuan) -  19,695
  • Productivity and Costs by Industry: Wholesale Trade and Retail Trade - pdf here
  • Global Economic Indicators: Global Manufacturing PMIs - pdf here
  • US Economic Indicators: Industrial Production - pdf here
  • BEA Personal Income and Outlays, June 2021 - pdf here
  • University of Michigan: Consumer Sentiment - chart here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Aluminium streaks to three-year highs on Chinese power cuts - Aluminum prices climbed to the highest in over three years on Friday on concern about reduced supplies in top producer China after more power cuts in the metal-producing province of Yunnan. - more

      Shortages continue to disrupt US stainless steel market - Inventory levels across the US stainless steel sector are extraordinarily low. While steel usage rebounded quickly following the pandemic-induced slump, steel production resumed at a much more gradual pace. - more

      China raises export tariffs on steel products to push industrial upgrading - China will adjust export tariffs on some steel products as part of efforts to push upgrading and transformation of the industry. - more
  • Iron ore sags on gloomy China demand outlook; stainless steel shines - more

      Allegheny Technologies to Cut 250 Jobs - Pittsburgh specialty metals producer Allegheny Technologies (ATI) announced this week that it will cut 250 jobs--more than a third of its workforce. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • South Africa Will Lift Force Majeure at Ports as Operations Resume - more
  • Europe: Plug-Ins Take 18.5% Of The Market In June 2021 - more
  • Stocks, Futures Rise as Earnings Buoy Sentiment: Markets Wrap - more

  Morning Stats and Prices

  • What time is it in....? - more
  • U.S. Steel Import Monitor - online here
  • SIMA Melt & Pour Dashboard - online here
  • US Economy At a Glance - more
  • US Fed NY Weekly Economic Index - more
  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here



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



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