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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

Thursday, December 28

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.49/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 370,850 tonne level. The LME stockpile numbers are now lower than they were on the first day of the year, and only 1,104 tonnes higher than the 2017 low of January 16. Nickel bounced overnight, erasing yesterday's loss and adding to the most recent bullish run. Technical indicators remain positive, and while slumping Chinese steel futures are adding negative pressure, a strengthening Euro is adding positive momentum. As this is our last update for the week, month and year, we want to take this opportunity to thank our readers for spending 2017 with us and invite you back . We also wish each of you has a safe and eventful weekend and that 2018 brings you health, wealth, and happiness.
  • Average price of cash nickel so far this month - $5.13/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - China demand outlook drives LME copper to fresh 4-yr high - more

  Reports

  • Reuters Daily Inside Metals - not published this week
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Copper rallies to three-year high as China plant halts output - more
  • Asian Stocks Near a Record High, Dollar Declines: Markets Wrap - more

     (Wednesday review) China imports help fuel copper's ascent to four-year high - Copper prices soared to four-year peaks on Wednesday after a jump in China’s imports of the metal in November boosted expectations of stronger demand from the top consumer. - more

     NSSC Raises Prices of CR Austenitic, Ferritic Stainless Wire Rods = For distributors' contracts of December 2017-February 2018 (rolling in January-March 2018) = Nippon Steel & Sumikin Stainless Steel (NSSC) released on 21st its domestic prices of stainless steel wire rods for distributors for contracts of December 2017-February 2018 (rolling in January-March 2018). - more

     Miners Invest $5b in Indonesia Nickel Smelters in First 10 Months - Thirteen mining companies have invested a combined $5.03 billion in the construction of nickel smelters during the first 10 months of this year to comply with Indonesian government requirements, an official at the Ministry of Energy and Mineral Resources said. - more

     China extends tax rebate for electric cars, hybrids - China will extend a tax rebate on purchases of so-called new-energy vehicles (NEV) until the end of 2020, a boost for hybrid and electric car makers amid a shift by policy-makers away from the traditional internal combustion engine. - more

     Norilsk Nickel to finance social projects in three Russian regions - Russia’s leading mining and metallurgical company Norilsk Nickel (Nornickel) announced winners of a competition among social projects, organized under its charity program World of New Opportunities. . - more

     Glencore and other miners entreat Congo to rethink damaging new laws - Mining companies in the Democratic Republic of Congo have urged legislators to rethink new legislation that could lead to acrimony between the government and the industry. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, December 27

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.50/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.08/lb lower. Stockpiles of nickel stored in LME approved warehouses rose on Thursday and fell on Friday and start the last week of 2017 just over the 372,250 tonne level. Stockpiles are now only ahead of 2017's first day by 192 tonnes, and thus it appears traders will pull off a deficit for the year. Nickel saw a decent little jump Friday morning, but this morning traders have cast a wary eye toward China, as steel prices there continue to flounder. We suspect markets will remain somewhat subdued this week, as traders square their books. However, last year, nickel fell from $5.00/lb to near $4.50/lb over the last 10 days of that year, so we could be proven wrong easily. Industry news remains quiet. Technicals remain positive, with resistance at $5.55/lb and the 10 day MVA back above the 30 and 100 day.
  • Average price of cash nickel so far this month - $5.12/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - China imports fuel copper's ascent to 3-1/2 year high - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - not published today
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Steel Imports Up 18% Year To Date Through November - more
  • China to remain the main game for global commodity demand: Russell - more
  • Reuters - Indonesia's Nickel Ore Exports At 3 Mln T As Of Nov - Mining Ministry
  • Stocks Struggle as Tech Shares Fall; Dollar Slides: Markets Wrap - more

     China Monday wrapup - Shanghai nickel falls alongside steel - Shanghai nickel closed nearly 1 percent lower on Tuesday after declining as much as 2.6 percent in early trade, with prices dampened by waning demand for steel. - more

     LME Friday wrapup - Copper hits 2-month high on global growth hopes, aluminium rallies - Copper hit a two-month high in thin pre-holiday trading on Friday, closing out the week with gains of more than 3 percent on signs of strong growth globally, while aluminium hit a seven-week peak on falling output in top producer China. - more

     Odisha: Tata’s ferrochrome unit to resume production in January amid staff stir - Even as agitation by its employees over non-payment of salaries continues, Tata Steel’s ferro chrome plant (FCP) at Chhatrapur within Chamakhandi police limits in Ganjam district is likely to resume production from January next year. - more

     Sumitomo Metal Mining to Take Part in Chromite Recovery Business = By-product of Taganito HPAL Nickel, Philippines = On December 19, Sumitomo Metal Mining Co., Ltd. (SMM) announced its plan to take part in the recovery business of chromite as raw materials mainly for stainless steel. - more

     Global steel’s ‘China’ problem - While global steel production has increased in November, analysts see steel output from China reclining. This comes as a result of cut down on steel production in order to reduce choking pollution and smog the country is engulfed in. Environment is the cost China has been paying for massive industrialization. - more

     Courtesy AISI - In the week ending on December 23, 2017, domestic raw steel production was 1,718,000 net tons while the capability utilization rate was 73.7 percent. Production was 1,607,000 net tons in the week ending December 23, 2016 while the capability utilization then was 67.8 percent. The current week production represents a 6.9 percent increase from the same period in the previous year. Production for the week ending December 23, 2017 is up 1.2 percent from the previous week ending December 16, 2017 when production was 1,698,000 net tons and the rate of capability utilization was 72.8 percent. - more     

  Morning Nickel Price Statistics & Figures

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

Thursday, December 21

     The London Exchange is closed Monday and Tuesday for the holidays, so our next update will be on Wednesday, December 27. We wish our readers the happiest and safest of holidays.

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

  • Three month nickel closed Wednesday's trading session at $5.46/lb . Indicators at 7:10 am CST today show 3 month nickel trading unchanged. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just over the 373,400 tonne level. Allegheny published January surcharges yesterday and we are still waiting to see the others. Surcharges dropped sharply. For example, 304 will drop from $.6191/lb to $.558/lb, while 316 drops from $.8054/lb to $.746/lb. Having punched thru the $12,000/tonne level again, nickel is hesitating today. Technical signals remain positive. Heading into a long weekend, we could see traders look to solidify this trading level.
  • Average price of cash nickel so far this month - $5.07/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Falling output in China drives aluminium to 3-week high - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Value of top 50 mining companies surge $140 billion in 2017 - more
  • November Steel, Aluminum Shipments Grow in U.S., Slow in Canada - more
  • Bonds Tumble, Equities Mixed as Tax Bill Passes: Markets Wrap

     (Wednesday review) - Copper hits two-month high above $7,000/t on weak dollar, growth hopes - Copper hit a two-month high on Wednesday as the dollar fell and investors remained upbeat about global growth prospects as a U.S. tax overhaul neared completion and China’s economy remained on a firm footing. - more

     Stainless Steel Production Reached 36.1 Million Tons In The First None Months of 2017 - The International Stainless Steel Forum (ISSF) has released figures for the first nine months of 2017 showing that stainless steel melt shop production increased by 7.4% year–on–year to 36.1 million metric tons. - more

     China's Yinchuan names 27 metal producers told to shut for winter - Yinchuan in northwest China's Ningxia Hui Autonomous Region, a key magnesium and ferroalloy production base, has released a list of metal producers asked to shut from November 27 to March 10 to cut emissions, the Yinchuan branch of the Ministry of Industry and Information Technology said Tuesday. - more

      China’s Influence on the Global Steel Sector Persists - The actions taken in China continue to influence the global steel market. Following capacity cuts earlier in the year, the Chinese authorities recently announced the latest round of production restrictions, from mid-November to mid-March, in an attempt to reduce pollution during the winter. - more

     Nickel Asia, unit not giving up mining on Manicani - Executives of Nickel Asia Corp. (NAC) and subsidiary Hinatuan Mining Corp. said they are not giving up mining on Manicani Island. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, December 20

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.33/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.09/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just over the 374,900 tonne level. After doing little yesterday, nickel is trading on the positive side this morning, as technicals send strong buy signals, and traders prepare for a long weekend break. Nickel closed 2016 at $4.55/lb, and is today trading around $1750/tonne higher. Whatever happens in the next few days, nickel has had a good year. Apparently the bulls want to make it just a little bit better.
  • Average price of cash nickel so far this month - $5.05/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Lead hits 2-month peak on strong winter demand, deficit worries - more

  Reports

  • November 2017 crude steel production - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SMM) China’s stainless steel output reached 2.15 million mt in November, down 1.5% from October.
  • (Tweet) Goldman says "our 3/6/12-month nickel price forecasts are $12,500/12,000/11,000/t, annual average forecast is $11,500/t for 2018, 9% higher than 2017"
  • Stocks Struggle as Tax Factor Fades; Bonds Steady: Markets Wrap - more

     (Tuesday review) Prospect of slower supply growth helps aluminium to 3-week peak - Aluminium prices touched a three-week peak on Tuesday as the prospect of slower supply growth from top producer China prompted investors to buy, but the likelihood of a surplus next year capped gains. - more

     Price of HC FeCr in China Stops Dropping and Rebounds = Electricity rate goes up in Sichuan = The price of high-carbon ferro-chrome in the Chinese domestic market showed a downward trend after passing a peak at the end of August, and continued a slight drop until the end of November, but stopped dropping at last in early December, and currently begins to rebound slightly. - more

      China to remain the main game for global commodity demand: Russell - China strode like a colossus over major commodity markets in 2017, as the world’s biggest buyer of natural resources made its presence felt on demand for coal, iron ore, crude oil and liquefied natural gas (LNG). - more

     EU Steel Price Revival Expected in Early 2018 - Strip mill product basis prices were stable in most northern European markets, in December, according to the latest edition of MEPS European Steel Review. - more

      Israel proposing replacement standards on nickel skin contact - Israel has notified the WTO of draft proposals to replace its standard on nickel release coming into contact with human skin with two new standards. - more

     Zim Alloys Hires 300 Workers - Gweru-based giant ferrochrome producer, Zimbabwe Alloys, which is under judicial management by Grant Thornton International, has recruited 300 employees to enable operationalisation of the company. - more

     State predicts PolyMet would need $1B to cover risks from copper-nickel mine - The closed LTV Steel taconite plant sits idle near Hoyt Lakes, Minn. The site, which closed in 2001, may return to life as part of Minnesota's first copper-nickel mine, owned by PolyMet Mining Corp. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, December 19

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.37/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses rose on Monday and now total just over the374,500 tonne level. Nickel's increase over the past few days has successfully pushed the metal out of its December trading channel, which has helped turned technicals positive. On the fundamental side, China's decision to lower export tariffs that we reported yesterday, is helping bulls predict steel demand from their could increase, and thus helping nickel's demand potential. While this is all potentially positive, we think the news that got traders excited yesterday, was Toyota's announcement that they planned to convert their entire automobile production from fossil fuel to either electric or hybrid by 2025. This, with General Motors October announcement, that they foresaw an entirely electric car future, is putting the demand for nickel and cobalt laden batteries back into the news.
  • Average price of cash nickel so far this month - $5.02/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Prospect of slower supply growth helps aluminium to 2-week peak - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (Platt) CISA: China composite steel price index rises slightly during November
  • Stocks Mixed as Euro Climbs; Core Bonds Decline: Markets Wrap - more
  • La Niña in the tropical Pacific - more

     Nickel hits three-week high, China demand seen solid - Nickel hit three-week peaks on Monday after China boosted expectations of higher demand by pledging to cut export taxes on some steel products, but sizeable inventories capped gains. - more

     Nickel Outlook 2018: Price Gains and Growing Battery Boom - What's in store for nickel in 2018? Experts share their nickel outlook, pointing to price improvement and increasing demand from the battery space. - more

     China Steel Output Climbs Despite Capacity Cuts - Despite two years of cuts, China's steel industry remains stuck in a trap of high production and pollution, leading to environmental damage at home and trade conflicts abroad. - more

  • China's steel export price hits near four-year high - more

     Horizonte Minerals to Buy Vale SA's Vermelho Project in Brazil for $8 Million - Horizonte Minerals PLC said Tuesday that it has agreed to buy the Vermelho nickel-cobalt project in Brazil from Vale SA for $8 million. - more

     Courtesy AISI - In the week ending on December 16, 2017, domestic raw steel production was 1,698,000 net tons while the capability utilization rate was 72.8 percent. Production was 1,607,000 net tons in the week ending December 16, 2016 while the capability utilization then was 67.8 percent. The current week production represents a 5.7 percent increase from the same period in the previous year. Production for the week ending December 16, 2017 is up 1.6 percent from the previous week ending December 9, 2017 when production was 1,672,000 net tons and the rate of capability utilization was 71.7 percent. - more

  Morning Nickel Price Statistics & Figures

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

Monday, December 18

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.25/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and started the week just over the 373,300 tonne level. Nickel saw a $300/tonne spike on Friday and has done little since. Technicals are mostly positive. Stockpiles are getting interesting with only two weeks left in 2017. We started the year at 372,066 tonnes and climbed as high as 389,154 tonnes, hit on August 31st. Today after a very slow and gradual decline, we are only 1,248 tonnes to the positive. We have seen four days this month, where the daily decline exceeded that difference, so it is becoming highly likely we will actually end the year with a deficit in LME stockpile numbers. That isn't a major earth shattering news flash, but it's late December, and industry news is really hard to come by, so we tried. Here is your holiday schedule for the London Metal Exchange. They trade all this week, with normal trading hours each day. They are closed on Christmas and the day after (called Boxing Day). They are then closed on New Years Day.
  • Average price of cash nickel so far this month - $5.01/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel hits three-week high, China demand seen solid - more

  Reports

  • Damstahl Stainless Steel Report - December 2017 - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • SMM - Global nickel supply shortage has widened to 9,700 mt in October, according to data released by the International Nickel Study Group (INSG) on Thursday.
  • Stocks Gain on U.S. Tax Plan; Treasuries Decline: Markets Wrap - more

     (Friday review) Copper hits 3-week high, boosted by buying on Wall Street - Copper prices scaled three-week highs on Friday after the New York open and as expectations of strong demand in top consumer China were reinforced by data showing firm industrial activity. - more

     High flying metals to fall back to earth in 2018 - Gold's looks like it's limping to the finish line with a $100 decline from it's 2017 high hit three months ago, but bullion bulls would probably feel happy about a second year of near double digit gains (provided the last fortnight of 2017 has no surprises in store). - more

     Nickel West smelter milestone defies gloomy predictions - BHP Nickel West sees a positive future for the 45-year-old Kalgoorlie Nickel Smelter after it hit a major milestone despite trying conditions in the global nickel market, producing the facility’s three millionth tonne last week. - more

     This is how much copper, nickel, cobalt an electric vehicle world needs - Glencore's investor day on Tuesday painted a positive picture not just of the Swiss miner and commodities trader's business but also had good news for the mining industry as a whole. - more

     China will cut export tariffs on some steel, fertilizer products, says Ministry of Finance - China will cut export taxes on some steel products and fertilizers and ditch those for sales abroad of steel wire, rods and bars from January 1, the Ministry of Finance said, in a series of measures that could boost shipments. - more

     RNC raises funding to support WA nickel ramp up - TSX-listed RNC Minerals has restructured a loan and raised additional funds to support the nickel ramp-up at its Western Australia-based Beta Hunt mine, where it aims to double production to four-million pounds next year. - more

    China steel demand strong as November output falls: Commerzbank - Lower November Chinese steel production than prior months and low monthly steel export volumes still highlight stronger demand fundamentals in the world's biggest steel market, Commerzbank said Friday. - more

  • China's steel export price hits near four-year high - more

     Chile's Molybdenum Production in October 2017 Is 5,284.3 Tons = Up by 2% from year-earlier month and up by 9% from prior month = According to Ministerio de Mineria of Chile, the production volume of molybdenum (in pure Mo equivalent) in October 2017 was 5,284.3 tons, up by 2.1% from 5,175.4 tons in the year-earlier month and up by 9.4% from 4,829.8 tons in the prior month. - more

     Natixis bank broadens metals fraud lawsuit, targets Glencore unit - French bank Natixis has broadened its $32 million (£24 billion) lawsuit over fraudulent receipts for nickel stored at warehouses in Asia by adding a unit of commodities giant Glencore as a defendant, a court filing showed. - more

  • Glencore - What We Do - more

     Myrup nickel sulphate plant sparks concerns - Although only in the definitive feasibility study phase of its development, Alpha Fine Chemicals’ theoretical nickel sulphate plant plan in Myrup has provoked a passionate response from landholders in the vicinity of the proposed site. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, December 14

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.03/lb . Indicators at 6:00 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and now total just under the 376,900 tonne level. Another day and another quiet news day. Except for a $100/tonne spike yesterday, that vanished as quick as it materialized, the market continues to trade quietly rangebound. Technical indicators remain neutral for the most part, offering little assistance to traders. China steel futures are in a retreat, and the Euro traded higher yesterday. Not a lot to comment on this week, so we will let the main stream media come up with an excuse to explain why the market is doing what the market is doing. In our opinion, traders are trying desperately hard to hold on to the $11,000/tonne level, after seeing nickel almost hit $13,000/tonne in early November. You remember early November, right? All the big players got together in London singing the praises of the future of nickel and the electronic car industry. And what has the market done ever since? Makes one wonder if the players were telling the world one thing, while behind closed doors, they were saying something else. Enjoy your weekend and we hope to see you next week.
  • Average price of cash nickel so far this month - $4.99/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London metals mixed, China data supports - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SMM) China's infrastructure investment grew 20% year-on-year to 12.67 trillion yuan for the first 11 months of this year, latest data from the National Bureau of Statistics showed.
  • Glencore is the tempting devil sat on mining's shoulder: Gadfly - more
  • All Chinese Oil Traders Want for Christmas Is a Futures Contract - more
  • European Stocks Fall Before ECB; Dollar Steady: Markets Wrap - more

     (Wednesday review) Copper rises as metals brace for likely U.S. rate hike - Copper rose on Wednesday as prices extended a correction from last week’s sharp fall, but moves were muted ahead of an expected interest rate increase from the U.S. Federal Reserve. - more

     Mincor roars back into nickel game - Mincor Resources will accelerate its return to nickel, more than two years since it suspended its regional exploration program in Kambalda because of poor market conditions. - more

     PolyMet offers $544M for mine costs - PolyMet Mining Corp. is offering the state a $544 million package of financial assurances to serve as an insurance policy to protect taxpayers from potentially having to cover the costs of closing and cleaning up a controversial copper-nickel mine it wants to build in northeastern Minnesota. - more

     Queensland Nickel: Clive Palmer says Mineralogy could fund reopening of refinery - Clive Palmer says one of his companies is poised to sink $25 million into the reopening of Queensland Nickel’s Townsville refinery. - more

     Jobs ‘yes’, but smelter should be done right  - If you’ve read any of my other op-eds, you know that I care about the environment, but that I also care about the Sault and its prosperity. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, December 13

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.02/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME approved warehouses rose on Tuesday and now total just under the 377,200 tonne level. Nickel moved back towards the $11,000/tonne line yesterday, but is up this morning. Investing.com is carrying an article that says the technicals are calling for another drop in the traded price of nickel, but one can take that for what its worth. Nickel is on its third day of a trading within a slightly higher channel than last week - trading in a $200/tonne range now between $11,000 and $11,200 tonne. Industry news remains quiet although Reuters Andy Home gives a commentary on Vale's mixed signals. We welcome him to the dark side.
  • Average price of cash nickel so far this month - $4.99/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper rises as metals brace for U.S. interest rate rise - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Chart Of The Day: Nickel Poised For Yet Another Drop - more
  • Stocks Struggle Ahead of Fed Meeting; Bonds Fall: Markets Wrap - more

     Zinc up after Glencore holds 2018 output forecast steady - Zinc prices rose on Tuesday after miner and trader Glencore held its output forecast steady for next year, disappointing investors who had largely bet it would restart more capacity. - more

     Vale's reality check for nickel's electric vehicle dreams: Andy Home - Nickel is one of the materials expected to win from the coming electric vehicle (EV) revolution. - more

     WMS Press Release December 2017 - The Nickel market was in deficit during January to October 2017 with apparent demand exceeding production by 49.9 kt. In the whole of 2016 the calculated deficit was 68.2 kt. Reported stocks held in the LME at the end of October 2017 were 9.4 kt higher than at the end of the previous year with most of the increases recorded in Asia. - more

     This is how much copper, nickel, cobalt an electric vehicle world needs - Glencore's investor day on Tuesday painted a positive picture not just of the Swiss miner and commodities trader's business but also had good news for the mining industry as a whole. - more

     $9m raising to get Mincor Resources back in Kambalda nickel game - Mincor Resources has announced a $9 million capital raising for an exploration program across its Kambalda nickel assets. - more

     Courtesy AISI - In the week ending on December 9, 2017, domestic raw steel production was 1,672,000 net tons while the capability utilization rate was 71.7 percent. Production was 1,607,000 net tons in the week ending December 9, 2016 while the capability utilization then was 67.8 percent. The current week production represents a 4.0 percent increase from the same period in the previous year. Production for the week ending December 9, 2017 is down 2.8 percent from the previous week ending December 2, 2017 when production was 1,720,000 net tons and the rate of capability utilization was 73.8 percent. - source

  Morning Nickel Price Statistics & Figures

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

Tuesday, December 12

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.10/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 375,500 tonne level. Industry news is very quiet today. Nickel jumped approximately $300/tonne about an hour after we posted yesterday, and then settled in around the $5.05/lb level, where it remains today. The move successfully broke nickel out of a week old channel, although it remains to be seen if that accomplishment is more than temporary. Chinese steel futures moved up yesterday, but backed off a little today. With fundamentals offering little reason for a movement, technical indicators are being watched closely. And at the moment, they are sending a neutral signal, with independent measures equally mixed.  Nickel is currently trading at its 10 day MVA, which is now running below both the 30 and 100 day MVA. The 200 day is running at $4.73/lb today so it appears to be safe for now.
  • Average price of cash nickel so far this month - $4.99/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Most China metals rise, buoyed by signs of industrial cuts - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Push Higher as Oil Rises; Dollar Slips: Markets Wrap - more

     (Monday re-cap) Copper inches higher on softer dollar, China data - Copper prices gained for a fourth straight session on Monday, supported by a weaker dollar and data from top consumer China that indicated higher demand. - more

     ISSDA Forecasts 9% Jump in Stainless Steel Production - According to ISSDA, the domestic steel production in India is estimated to touch 3.6 million tonnes in 2017, significantly higher by 9% when compared with the previous year. - more

     Nickel Outlook 2018: Price Gains and Growing Battery Boom - What's in store for nickel in 2018? Experts share their nickel outlook, pointing to price improvement and increasing demand from the battery space. - more

      Vale to Preserve Nickel Optionality: Expects Electric Car Boom - On Vale Day on December 6, 2017, Vale pared back its production forecasts for nickel for the next five years. It cut its nickel volumes estimate by 15% to 263,000 tons in 2018. - more

     Analysis: China, global steel mill spreads strong into year end - Global indicators of operating margins at steel mills look strong across the board into the end of the year, as increases in steel prices have kept up with volatile iron ore, coking coal and scrap costs, according to S&P Global Platts analysis and data. - more

     Canico accepts sweetened CVRD offer - Canico Resource Corp. yesterday endorsed a sweetened bid from Brazil's Companhia Vale do Rio Doce, marking the second time the Canico team has groomed a project to the point where a chequebook-toting suitor came knocking at the door. - more

  Morning Nickel Price Statistics & Figures

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

Monday, December 11

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.99/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and Friday and start the new week just over the 376,150 tonne level. The market continues to use the $11,000 tonne level to trade around, since falling to the level last Tuesday. Market bulls need some news to get back the momentum they had in the fall, and Vale isn't giving it to them by announcing they might mothball their mega mine in New Caledonia if they can't find a partner to help cover the expense of operating the facility. We have read that the formerly named Goro operation is one of the most expensive to operate in the world, which might explain the apparent offers they have received thus far, have not met their expectations. But, they added for stock holders, they still maintain a very positive outlook for the future of nickel. Ok, we won't try to explain that reasoning - just throwing it out there as what is being reported as what was said. Kind of like divorcing your wife because she is expected to turn super hot in a few years. Another week of business begins - best of luck to each of you.
  • Average price of cash nickel so far this month - $5.00/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - London metals mixed as firm dollar dents upbeat China trade sentiment - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • European Shares Flat as Euro Rises; Dollar Drifts: Markets Wrap - more

     (Friday re-cap) Stronger China demand prospects fuel copper's rise - Copper prices rose on Friday after data showing a jump in Chinese imports of the metal fuelled expectations of stronger demand from the top consumer, but gains were capped by a rising dollar. - more

     Vale to mothball New Caledonia mine if no stake buyers found, CEO says - Vale would mothball its nickel project on New Caledonia next year if it does not find a strategic partner prepared to purchase a 20%-40% stake, says CEO Fabio Schvartsman of the mine, which cost billions of dollars to build and has been plagued by problems. - more

     Chinese companies to produce iron and nickel in west of Kazakhstan - China continues to strengthen business relations with the regions of Kazakhstan. - more

     Production Volume of SUS Products in September 2017 Is 247,617 Tons = Up by 1% from prior month, and production of Cr-type is down but one of Ni-type is up = The Ministry of Economy, Trade and Industry announced the production volume of stainless steel products (hot-rolled products) in September 2017 was 247,617 tons, which was up by 0.6% from the prior month and also up by 0.9% from the year-earlier month. - more

     Dec Ni SUS Scrap Purchase Price in Kanto with JPY150,000 - 152,000 = Due to increased prices of nickel and stainless steel products = As of December 4, many of the stainless steel mills in the Kanto area offer the purchase price (delivered at plant) of nickel-containing stainless steel scrap (SABOT) at JPY150,000 - JPY152,000 per ton. - more

     Russians interested in constructing ferrous nickel processing plant - Russian investors visited the Office of Governor Sol Matugas here Sunday afternoon and discussed about a processing plant to be invested in Surigao del Norte province. - more

     Norilsk Nickel to boost investment in geological exploration by 25% - Russia’s top nickel producer Norilsk Nickel plans to invest 1.5 bln rubles ($25 mln) in geological exploration in 2017, a 25% increase compared with 2016, the company said Monday. - more

      ‘Miners can do better’ - At least 20 mining and quarrying companies that excelled in various aspects of operations were cited for their best practices during the 64th Annual National Mine Safety and Environment Conference held in Baguio City last month. - more

     Letter: Sudbury mining's leader - On Nov. 21, I led a delegation from Sudbury to Ottawa for the annual Mining Association of Canada's Mining Day on the Hill. - more

     Clive Palmer denies refinery squeezed to meet debts - Clive Palmer has denied using his stricken Queensland Nickel company as a “cash cow” to pay the debts of his corporate empire. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, December 7

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.88/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Wednesday and started today's session just over the 377,800 tonne level. It appears the 10 day MVA will cross below the 100 day today and not exactly sure if that will have an effect on electronic traders or not. Surely a bearish signal. Six months ago, nickel averaged $4.20/lb and three months ago, it averaged $4.64/lb. After spiking to average $5.45/lb last month, nickel has been in trouble. Yesterday's close was its lowest since October 5th. The market is more subdued today, with bears and bulls wrestling to a stalemate so far. BHP got out of the nickel business a few years back, and now Vale says it is dialing back. Two things to notice. Just a few months ago all anyone heard was the boom in nickel that was coming thanks to electronic vehicles. And two, lets hope we don't see the headlines some day titled 'The Year Pig Nickel Diggers Killed Major Miners'. Don't expect it, but China's ability to turn once garbage rock into a new source for nickel, has turned the nickel industry on its head. Our last update for the year, so have a safe and relaxing weekend and we hope to see you next week.
  • Average price of cash nickel so far this month - $5.02/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Copper rises on bargain hunting, gains seen fragile - more

  Reports

  • U.S. Exports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SMM) As per SMM research, with distinct slump in market, NPI plants keep bearish at nickel ore price.
  • AISI Releases November SIMA Imports Data; Import Market Share 25 percent in November - more
  • Stocks Gain as Profit Taking Eases; Dollar Rises: Markets Wrap - more

     Wednesday wrap-up - Copper steadies after sharp losses, other metals fall on China jitters - Copper steadied on Wednesday after sharp falls in the previous session, while other metals fell on concerns that China could see a weaker first half of 2018 and as investors looked to reduce their long exposure before the end of this year. - more

     Vale cuts nickel output but is positive on long-term demand - Brazilian miner Vale SA dialed back its nickel output forecasts for the next five years on Wednesday, although the world’s top producer of the metal praised its longer term prospects on likely soaring demand for electric cars. - more

  • Vale aims to reduce nickel footprint - more

     Nickel Trends 2017: Deficit Expected on Supply Challenges - At the end of 2016, nickel was trading at $10,010 per tonne, and many market watchers were anticipating higher prices in the face of rising demand and short supply. - more

     japan's Exports of Steel Products in Oct Fell by 10.3% to 3,020 t/t = Its exports of ordinary steel products were 1,880 t/t, down 15% for 14 months in a row = The Japan Iron & Steel Federation released on 30th Japan's imports and exports of steel products in October. - more

     Clive Palmer avoids raids after handing over Queensland Nickel documents - Liquidators will not need to raid Clive Palmer's company Mineralogy after the billionaire complied with a court-imposed deadline to hand over financial documents. - more

  • Clive Palmer due in court over the collapse of Queensland Nickel - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, December 6

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.93/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses rose yesterday and started today just over the 378,400 tonne level. Depending on which side of the bull-bear spectrum you sit, the bears had a big day yesterday. The trading price of nickel fell below its week long channel, and more importantly, below the $11,000/tonne level. Nickel has fallen nearly $600/tonne in the last two days, and this drop puts it back into the negative channel it has been in since November 6th. Since then, the price has fallen over $2000/tonne. Technically, things are not looking very encouraging for the bulls. Yesterday's price drop put nickel back under the 100 day MVA, and if today ends negatively, the 10 day moving average should move back below the 10 day line for the first time since mid summer. The 200 day MVA is sitting at $4.72/lb today and if we see a few more days like yesterday, it too could be in jeopardy.
  • Average price of cash nickel so far this month - $5.06/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Shanghai copper prices fall sharply on China demand jitters - more

  Reports

  • U.S. Imports of Stainless Steel Mill Products - more
  • U.S. Imports of Stainless Steel Mill Products - more
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (Reuters) BMI Research said it expects industrial metal prices in 2018 to consolidate due to a marked slowdown in China's metals consumption growth.
  • Stocks Drop as Risk-Off Takes Hold; Bonds Advance: Markets Wrap - more

     (Tuesday wrap-up) Copper at two-month low on firmer dollar, inventory rise - Copper had its biggest drop for two years on Tuesday with the price hitting its lowest level in two months as inventories rose and the dollar firmed on expectations of U.S tax reform. - more

     Colombia nickel output gains, precious metals fall in Q3 - Colombian output of nickel rose in the third quarter from a year ago, while precious metals and coal production fell, the government said. - more

     US to Levy Punitive Tariffs on Chinese Steel exported via Vietnam - As per Routers, the US department of commerce says it will levy a 199.43% anti-dumping duty and 39.05% anti-subsidy duty on corrosion-resisting steel products using Chinese substrate imported from Vietnam. - more

     Electric charge: Glencore bets big on car battery metals - Glencore has increased production of the metals used to make electric car batteries faster than its major mining rivals, according to an industry-wide analysis that shows the scale of a strategy that has big prospective risks and rewards. - more

     Steel Rally's So Powerful It's Now Back to Lehman-Crisis Levels - Steel’s breath-taking rally just scaled a fresh peak, with prices hitting the highest since the world economy tanked almost a decade ago during the financial crisis ushered in by the collapse of Lehman Brothers Holdings Inc. - more

  • Steel consumption to rise 7.7% this year - more
  • Profits surge at private steel mills - more

     NASA has reinvented the wheel using a material that ‘remembers’ its shape - NASA has reinvented the tire. These rover tires are made from a nickel-titanium alloy. A material that can be deformed and return back to shape. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, December 5

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.16/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.11/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Monday and now total just over the 376,600 tonne level. It looks like nickel has fallen into a narrow band of trading, between $11,000 tonne and $11,400, where it has spent the last week. Today's drop has put the trading price of nickel below its 100 day moving average for the thrid time in the last four sessions. This is sending a negative technical signal, with the 10 day MVA turning negative mid November. Other technical signals remain split. December can be a feast or famine month when it comes to news, and so far this year, it hasn't been headline heavy yet.  
  • Average price of cash nickel so far this month - $5.08/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Base metals slip on profit-taking, shrug off positive China data - more

  Reports

  • Steel Statistical Yearbook 2017 - pdf here (just released)
  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Drop as Miners Retreat; Brexit Saps Pound: Markets Wrap - more
  • A new brochure from ISSF demonstrating Stainless Steel is a workable, lasting solution for water losses through leaking water pipes. - more
  • La Niña established in tropical Pacific - more

     (Monday re-cap) Nickel boosted by China steel but dollar caps gains - Nickel gained on Monday as the metal mainly used in stainless steel got a boost after Chinese steel futures touched three-month highs, but a firmer dollar capped the rise. - more

     Rio Tinto appoints Simon Thompson to replace Jan du Plessis as its new chairman - After a nine-month search, Rio Tinto has picked former investment banker Simon Thompson to be its new chairman from March 5, next year. - more

     Norilsk Nickel to shell out billions to tackle environmental issues of Russia's north - Norilsk Nickel is a Russian diversified mining and metals company, the globally largest producer of nickel and palladium and the major producer of platinum, cobalt, copper, and rhodium - more

     Latest on the ferrochrome smelter bid - Sault Ste. Marie's bid team pursuing a Ring of Fire-related ferrochrome smelter will meet this week with officials of Algoma Steel to consider possible locations on steel mill property. - more

     EPA reverses rule requiring mine cleanup money - The U.S. Environmental Protection Agency has announced that it won't require mining companies to prove they have the cash available to clean up future pollution problems, often called financial assurance, despite government reports that show huge legacy cleanup costs to taxpayers. - more

     Courtesy AISI - In the week ending on December 2, 2017, domestic raw steel production was 1,720,000 net tons while the capability utilization rate was 73.8 percent. Production was 1,595,000 net tons in the week ending December 2, 2016 while the capability utilization then was 67.3 percent. The current week production represents a 7.8 percent increase from the same period in the previous year. Production for the week ending December 2, 2017 is up 1.0 percent from the previous week ending November 25, 2017 when production was 1,703,000 net tons and the rate of capability utilization was 73.0 percent. - more

  Morning Nickel Price Statistics & Figures

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

Monday, December 4

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.12/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME approved warehouses fell both Thursday and Friday and started today's session just over the 378,500 tonne level. Nickel fell early Friday, but bounced off the $11,000/tonne level sharply and has been trading higher ever since. Is the bear run over? Way too early to say that, but since mid day Friday, the price has bounced over $400/tonne, which literally moved the stochastic reading from oversold to overbought in moments. Technicals at the moment are mostly bullish, and this bounce has moved nickel back above the 100 day MVA, while still below the 10 and 30 day. Once again the media looks for a "reason" for their headlines and for those who might buy into today's headline that "Nickel gets boost from Chinese steel market gains", the Chinese steel market has been 'gaining' for the last two and a half weeks - how has that been working out for nickel? Steel prices in China are up because steel production is down due to the anti-pollution measures the government is taking this winter. How lower steel production 'helps' nickel - is beyond us. We hope you have an enjoyable and profitable week.
  • Average price of cash nickel so far this month - $5.01/lb
  • Average price of LME traded nickel in 2017(1st half) - $4.43/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb / 2013 - $6.80/lb /
  • (USGS) Metal Prices in the United States Through 2010 - pdf here
  • Baltic Dry Index - (current) (chart)
  • Dollar trading graph - (chart of dollar index)
  • Reuters metals morning - Nickel get boost from Chinese steel market gains - more

  Reports

  • Reuters Daily Inside Metals - pdf here
  • KBC Commodity Report - here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Gerdau Steel Market Update - more
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Nickel: Nice To Go Long - more
  • Chart Of The Day: Is Nickel Hammering Out A Bottom? - more
  • AISI Reacts to G20 Global Forum on Steel Excess Capacity - more
  • Dollar Rises With Yields on Tax Plan; Stocks Jump: Markets Wrap - more

     (Friday wrap-up) Lead, zinc hit multi-week highs on China shutdowns - Lead and zinc touched multi-week highs on Friday amid supply concerns as China steps up pollution inspections just as seasonal demand for lead in batteries increases. - more

     Coleman Mine shutdown extended until end of January - The shutdown at Vale's Coleman Mine in Sudbury has been extended, according to the United Steelworkers Union. - more

     Blockbuster! Indonesian Government to Cancel Nickel Ore Quota - As per SMM research, concerning semi-annual construction progress of NPI plants in Indonesia, some of them are lagging behind planned schedule, which may face risk of cancellation of quota. - more

     ‘Miner's Revenge’ Is Coming With Electric Cars, Friedland Says - Surging demand for metals like copper, nickel and cobalt for use in electric vehicles promises to overturn the balance of power between mining companies and their customers, according to billionaire investor Robert Friedland. - more

     Iron Range: Conflict over future of mining is unearthing a new political force in Minnesota's north country - Up North on Minnesota’s Iron Range there’s a clan of hearty folks, intensely proud and loyal to their own. - more

  • House passes bill to reopen areas near BWCAW to copper-nickel exploration - more

     We Probe The Universe From A Nickel Mine, And With Lots Of Video Calls - What do a big chunk of ice at the South Pole, a mine in northern Ontario, and a mountain in Italy have in common? - more

     These Shapeshifting Metals Could Be the Future of Flight - Humanity may be divided on a great many issues, but most would agree that it would be very cool to have airplane wings made of shapeshifting metal. - more

     Queensland Nickel liquidators threaten Clive Palmer with contempt - Clive Palmer has been given more time to hand over documents relating to the collapse of Queensland Nickel, but could risk contempt of court proceedings if he fails to meet the new deadline. - more

     The lure of a better life, amid Siberian cold and darkness - Blessed with a cornucopia of precious metals buried beneath a desert of snow, but so bereft of sunlight that nights in winter never end, Norilsk, 200 miles north of the Arctic Circle, is a place of brutal extremes. - more

     Mining Day in Ottawa draws Sudbury crowd - Mining Day on the Hill was an opportunity for Greater Sudbury Mayor Brian Bigger to rub elbows with the lead player in the Ring of Fire. - more

  Morning Nickel Price Statistics & Figures

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

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"A Guide To LME Trading"...pdf here (all ton listings are metric tons = 2204.622 pounds ) Updated Monday thru Thursday before 8 am CST - Disclaimer Original content and opinions copyright www.estainlesssteel.com. All prices shown on this page are indications only. Note - For real time and official LME prices, LME requires a user subscribe to an authorized LME vendor.

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