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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 Market

    Cell phone and tablet users - smaller version of this page - (here)

Thursday, December 13

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $4.90/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $04/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started todays session pretty close to where the did on Tuesday and just over the 210,300 tonne level. Nickel stockpiles monitored by the LME don't seem to be doing much this month, but so far, they are falling at an average of 358 tonnes per day, much higher than the 240 tonnes they averaged in November. Nickel came within less than $.01/lb yesterday of testing support, but it bounced sharply and no test was allowed. Nickel is higher today, but showing little enthusiasm, and like the rest of the market, one tweet away from losing any positive feeling traders might have today. The Chinese steel index bounced last night, and if it bounces again on Monday, we will see it break out of its downward trend channel. That means little as it doesn't yet signal an end to the downward trend, but it looks positive on an otherwise depressing chart. Euro is trading higher than yesterday, but back to where it was trading on Tuesday. Worldwide sales estimates of EV vehicles came in at the 208,800, which compares to over 148,900 last November. Nickel trading continues to be guided by external factors, primarily the China-US trade tariff's, and a fear it may get worse before it gets better. Since nickel traded at $7.60/ln on June 5th, it has trended lower, with LME stockpiles falling by nearly 71,000 tonnes or put another way having lost 25% of its inventory during that same period. This is our last update for the week. We hope you have a safe and enjoyable break and invite you back next week.  
  • Average price of cash nickel so far this month - $4.95/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London copper hits 1-week high on signs of trade row easing - more
  • Reuters Daily Inside Metals - pdf here
  • US Economic Briefing: High Frequency Indicators - Yardini Research - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Arrests Multiply as Huawei Fallout Spreads - more
  • Chinese state tightens grip 40 years after Deng's reforms - more
  • China's industrial sector maintains stable operation: survey - more
  • Chinese Steel Demand Forecast to Drop by 2.4% in 2019 - more
  • Two Chinese cities order steel mills to cut output on concerns of missed pollution targets - more
  • China’s updated ‘Guide’ reiterates quality over quantity as key steel industry focus - more
  • Business Forward: Tariffs are Destroying Demand for Products Manufactured in U.S. - more
  • Global Stocks Mixed Amid Hints of Trade Progress: Markets Wrap - more

     Yesterday's market review - Copper dips on frustration over U.S.-China trade dispute - Copper slipped on Wednesday as investors shrugged off upbeat comments from U.S. President Donald Trump about a potential trade deal with China, while the dollar hovered near a one-month peak against its peers. - more

       Greece seeks to avert nickel producer Larco shutdown - Greece is trying to avert the possible closure of Europe’s biggest nickel producer Larco and is looking at ways to ensure there are no interruptions to its electricity supply, the country’s energy ministry said on Wednesday. - more

      Goldman Says Commodities Won't Repeat 2015 Crash as China Slows - China’s embattled commodities sector will escape a 2015-style price collapse, according to Goldman Sachs Group Inc., which says producers in the world’s top supplier are in better shape to cope with demand that’s ebbing on all fronts. - more

      Press Release December 2018 - The Nickel market was in deficit during January to October 2018 with apparent demand exceeding production by 10 kt. In the whole of 2017 the calculated deficit was 41.3 kt. - more

      PNG government rethinking China mining deal after opposition - Papua New Guinea's mining minister says the government is looking at changing parts of a controversial mining deal struck with China. - more

      The Battery Cycle – Setting the Record Straight - The much-touted electric vehicle revolution is upon us and battery storage development is taking off. Look no further than recent EV sales. - 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 12

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $4.89/lb . Indicators at 6:20 am CST today show 3 month nickel trading unchanged . Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started todays session just over the 211,100 tonne level. Nickel traders did not experience the love the other base metals did yesterday, and except for tin, the rest of base metals are doing little more than nickel is this morning. Nearly 24 hours ago, the U.S. President teased his Twitter followers with "Very productive conversations going on with China! Watch for some important announcements!" This encouraged the markets initially until the President got on camera with Democrats from the House and Senate and  ..... well it could be said that the riots in France were slightly less dignified. Upon news that the President would be 'proud' to shut down the government to get the money to build a border wall that he promised voters Mexico would pay for, the market lost their early enthusiasm. President Trump told Reuters overnight he would 'intervene in the arrest of Huawei’s chief financial officer Meng Wanzhou if it would help ensure a trade deal with China'. Equity markets are higher on this news, with commodities talking a more wait and see attitude, with a lower Euro today not helping things.We are dangerously close to trading at new 2018 lows, set just a few weeks ago.
  • Average price of cash nickel so far this month - $4.97/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Base metals gain slightly amid U.S.-China trade hopes - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Tariffs Did Not Hurt the Economy, Finds Study - more
  • Daimler plans to purchase battery cells worth 20 bln euros - more
  • Commentary: U.S. tariffs fail to dent Chinese aluminium export surge - more
  • Stocks Rise on Renewed Trade Hopes; Pound Climbs: Markets Wrap - more

     Tuesday's market review - U.S.-China trade talks lift copper prices - Copper and most other base metals edged higher on Tuesday as investor appetite for riskier assets returned following a sell-off in the previous session. - more

      Production cuts lower #300 stainless steel output in Nov - Production cuts at a stainless steel mill in south China is likely to lower output of #300 stainless steel by 3.12% from October, to 1.17 million mt in November, an SMM survey found. - more

      Horizonte details economics of Araguaia expansion - An assessment of a second stage expansion of the planned Araguaia nickel project, in Brazil, has delivered compelling economic results, with a base case net present value of $741-million and an internal rate of return of 31.8%, Aim- and TSX-listed Horizonte Minerals reported on Wednesday. - more

      Misuse of Free Trade Agreement by China - With the US and EU’s constant trade deal sanctions imposed on Beijing, China risks of being in market isolation. - more

      Anglo ending 2018 on high note, predicts higher output, lower costs - Global miner Anglo American is ending 2018 on a high note, the company reported Tuesday. Anglo expects total production for the year to be 2% above of previous guidance, with costs decreasing by 5%. - 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 11

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $4.90/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just under the 210,300 tonne level. Nickel came within approximately $.03/lb of testing support yesterday, but is higher today as the Euro trades higher and nerves settle over the China - US trade talks. China steel futures continue to slide, trading more down than up, and firmly in a downward trendline. Someone is sabotaging New Caledonia's Eramet mine again. This has been going on for some time and subsided after some arrests were made last month - but has started again. It is having a serious effect on production. China and the US have apparently discussed aspects of their trade negotiations by phone, which 'implies' the recent arrest of the senior executive at China’s Huawei Technologies Co. will not derail talks. Now in truth, only a few people were on that call and thus what is 'leaked' is either the truth ,,, or what one side or the other wants us to believe happened. It doesn't really matter either way because until something is agreed on, the markets will remain volatile. The proverbial can has been kicked down the road, and cans have the nasty little habit of rolling in unpredictable directions.
  • Average price of cash nickel so far this month - $4.98/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - London metals rise on softer dollar, U.S.-China trade talks - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • European Stocks, U.S. Futures Climb as Bonds Drop: Markets Wrap - more

     Monday's market review - Copper slips as China data reinforces demand worry - Copper prices slipped on Monday as Chinese import data reinforced worries about growth in demand for industrial metals fuelled by the ongoing U.S.-China trade dispute, while a firmer dollar also weighed. - more

      More fires at New Caledonia's Kouaoua mine - There have been more arson attacks at the New Caledonian mining site at Kouaoua. - more

      Ni SUS Scrap Price in December Starts with JPY110,000 = Price continues dropping due to feelings of products remaining unsold in domestic market = As of December 3, the stainless steel mills in the Kanto area purchase nickel-containing stainless steel scraps (SABOT) at around JPY110,000 per ton (delivered at plant). - more

     Mining giant BHP has taken another step towards its goal of being a major player in the battery metals space, with the company reportedly given the green light to go ahead with developing a mine at its Venus nickel deposit in Western Australia. - more

      Norilsk Nickel to invest over $12 bln in development in 5 years - Russian metals giant Norilsk Nickel plans to invest over U.S. $12 billion in production development over the next five years, CEO Vladimir Potanin said Monday at a meeting with President Vladimir Putin. - more

     Courtesy AISI - In the week ending on December 8, 2018, domestic raw steel production was 1,876,000 net tons while the capability utilization rate was 80.0 percent. Production was 1,676,000 net tons in the week ending December 8, 2017 while the capability utilization then was 71.9 percent. The current week production represents an 11.9 percent increase from the same period in the previous year. Production for the week ending December 8, 2018 is down 0.8 percent from the previous week ending December 1, 2018 when production was 1,892,000 net tons and the rate of capability utilization was 80.7 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 10

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $4.95/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME licensed warehouses have done very little over the last two sessions and start the week just over the 210,800 tonne level. $4.86/lb remains major support and nickel is dangerously close to testing this level again. China notched up the rhetoric over the weekend over the arrest of the Huawei CFO, threatening the US and Canada with 'grave consequences' if she is not released. In response, US officials announced March 1st is the 'hard' deadline for trade negotiations, and without an agreement by that date, new tariff's will begin. In other words - market volatility is a given. The stainless steel index we follow in China is down 3% from this time last month, and nearly 2% lower from this time last year. The trading board is mostly red this morning as traders of all commodities express concerns. Could be a rough day unless the pessimism tones down and someone starts buying.
  • Average price of cash nickel so far this month - $5.00/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper slips as China data reinforces demand worry - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China summons US envoy to protest ‘unreasonable’ arrest of Huawei’s Meng Wanzhou, threatens to retaliate - more
  • U.S. calls March 1 ‘hard deadline’ for trade deal with China - more
  • Stocks Drop as Trade Concerns Fester; Euro Climbs: Markets Wrap - more

     Friday's market review - Copper bounces from 3-week low as dollar drops - Copper climbed more than 1 percent on Friday as the dollar looked set to record its biggest weekly drop in two months, tempting buyers back to the metal after the previous day's steep slide. - more

      Commentary: Vale doubles down on nickel ahead of EV revolution - Vale, the Brazilian mining giant built on supplying the world’s steel mills with iron ore, is now betting on the electric vehicle (EV) revolution to turn its nickel division around. - more

     PH sees decline in nickel ore shipment next year - The new policy restricting miners to conduct massive digging and mining within their mine sites, among others, will make it hard for the Philippines, one of the largest nickel producers in the world, to produce more of the said mineral commodity next year. - more

      Market Trend of Import of Ferroalloy as of 30 November 2018 = Price of manganese metal continues to drop, and price of FeV rebounds in Europe = The market trend of import of ferroalloy as of 30 November 2018 is as follows. - 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 6

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.09/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.12/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just under the 210,900 tonne level. Nickel recovered much of Monday's losses yesterday, but is down sharply this morning and trading below the $11,000/tonne level. The arrest of a CFO from a Chinese tech giant by Canadian authorities at the request of US officials, has markets nervous this morning and questioning the timing in light of the tariff negotiations. US Dow futures were pointing higher yesterday but are down sharply this morning, in light of the arrest. Chinese steel futures are lower this morning, but the last few days so the index climb back into its down trend channel. The Euro is offering no help to the bulls, Electric Vehicle sales figures for November are in and 2018 sales estimates come in just over the 44,100 sales level,.compared to just shy of 17,200 last November. The Tesla Model 3 makes up over 42% of US sales. Worldwide sales figure estimates wont be available for a few weeks. While Indonesia hopes to ship more nickel ore next year, the Philippines are cautioning they may ship 20% less. Much of the news available today was repeating yesterday's announcement by major mining companies of expansion and exploration plans. All of this is bullish for nickel but at the moment, volatility rules as markets worry about what will be the next shoe to fall in the China and US trade spat. This is our last update for the week, so we wish you all a safe and relaxing weekend and invite you back Monday. And 19 days until Christmas!
  • Average price of cash nickel so far this month - $5.06/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Shanghai copper drops for fourth day as trade worries persist - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Tumble After U.S. Futures Blindsided Traders: Markets Wrap - more

     Wednesday's market review - Copper drifts to 1-week low as U.S.-China tensions rekindled - Copper fell to its lowest level in a week on Wednesday after comments by U.S. President Donald Trump stoked more worries about trade tensions with top metals consumer China. - more

      20% drop in PH nickel output seen in 2019 - The country’s nickel mine production is expected to decrease by up to 20 percent next year due to various regulations set by the Department of Environment and Natural Resources (DENR) as well as the movement of nickel prices in the world market. - more

      Nickel's electric dreams - Picking through the wreckage of commodities markets at the end of 2018, few investors will see much hope in the debris. - more

       New SA nickel sulphate purification plant enters production in H1, 2019 - Benefication company Thakadu Battery Materials has made its first drawdown under a R152 million loan facility agreement between its operating subsidiary Lonix and the Industrial Development Corporation for the completion of its modular nickel sulphate purification plant. - more

     Courtesy AISI - In the week ending on December 1, 2018, domestic raw steel production was 1,892,000 net tons while the capability utilization rate was 80.7 percent. Production was 1,703,000 net tons in the week ending December 1, 2017 while the capability utilization then was 73.0 percent. The current week production represents an 11.1 percent increase from the same period in the previous year. Production for the week ending December 1, 2018 is down 0.7 percent from the previous week ending November 24, 2018 when production was 1,906,000 net tons and the rate of capability utilization was 81.3 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

    Cell phone and tablet users - smaller version of this page - (here)

Wednesday, December 5

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.05/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell sharply on Tuesday and started today's session just under the 211,300 tonne level. Yesterday's figures show this was the biggest one day decline in LME nickel stockpiles since mid September. As predicted, volatility is back, with nickel slumping yesterday, after President Trump tweeted "I am a Tariff Man". Saber rattling is to be expected during the 90 day 'truce', but one is not typically sending a strong signal to the world that they are negotiating in good faith when they start making threats within 24 hours of returning from the start of that 90 day period. Most US trading markets are closed today, out of respect for President Bush (#41) passing, but investors sent a strong message of displeasure to the current President yesterday, with the Dow falling 799 points. Nickel is quiet today, and the market is showing little momentum to go in either direction. Many of the worlds largest mining companies talking about mine expansions, new mines and exploration going on, which tells us they are anticipating long term supply deficiencies and higher prices.
  • Average price of cash nickel so far this month - $5.09/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Most metals down on U.S.-China trade worries; zinc up - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China's Bubbles Buoy Economy as Risks Loom - more
  • Global prices for EMM and Chrome Ore have started to fall in the last week. - more
  • China Swings Into Action on Trade as ‘Tariff Man’ Trump Ups Pressure - more
  • Trade Pledge Slows Stock Sell-Off; Dollar Edges Up: Markets Wrap - more

     Yesterday's market review - Caution over U.S.-China trade truce drags on copper - Copper eased on Tuesday as markets awaited remedial action by the United States and China after the two countries’ weekend agreement on a 90-day ceasefire in their damaging trade dispute. - more

      Price decline improves spot nickel trades in Shanghai - Spot nickel trading activity in Shanghai in the morning of Wednesday December 5 improved from Tuesday as prices of nickel tumbled, SMM research found. - more

       The Commodities Feed - Nickel vs stainless steel: LME nickel prices have declined nearly 30% from their peak in June, while stainless steel prices in China have fallen by only around 7-8%. - more

       BHP gets green light to develop nickel mine in Western Australia - BHP on Wednesday said it had received approval from the government of Western Australian to develop a nickel mine in the state that will feed its Nickel West battery chemicals business. - more

  • Nickel West gets nod for Venus mine start - more

      Vale, Glencore to jointly study Nickel Rim South potential - Vale and Glencore are collaborating on a study to explore the possibility of accessing new, deeper deposits from Glencore’s Nickel Rim South Mine. - more

      Vale to improve New Caledonia nickel mine on its own via $500M investment - Vale says it plans to invest $500M in its struggling New Caledonia nickel mine on its own after previously seeking a partner for the venture. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, December 4

  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 $.04/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Monday and started today just under the 212,800 tonne level. Nickel prices continues to climb on the Xi-Trump truce announced over the weekend. Prices fell overnight in Shanghai, and news from China remains pessimistic for nickel in the short term. Stainless steel price index shows Chinese stainless steel is 4-1/2% lower than this time last month. Initial resistance at $5.09/lb doesn't appear to be putting up any type of barrier, although it remains to be seen if this sudden optimism has any staying power to it. After a big day yesterday, Dow futures are sharply lower today - so volatility remains the one thing the markets can count on.
  • Average price of cash nickel so far this month - $5.08/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper prices ease on doubts about China demand, trade truce - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SO) MOC: Average finished steel price in China down 3.2 percent
  • (SO) CISA mills' average daily crude steel output up 1.83% in mid-November
  • Stocks Drop as Trade Hopes Fizzle; Treasuries Rise: Markets Wrap - more
  • El Niño ALERT continues as positive Indian Ocean Dipole weakens - more

     Monday's market review - Copper hits two-month high after U.S.-China trade truce - Prices of industrial metals rose on Monday, with copper hitting a two-month high, after the United States and China agreed to a truce in a trade dispute that has undermined confidence in economic growth prospects. - more

      Indonesia says two companies can resume nickel ore exports - Indonesia has granted permission for two commodity companies in the country to restart exports of nickel ore as they have made progress on smelter projects, a government spokesman said on Tuesday. - more

      Government Measures Disturb International Stainless Steel Trade - The global flow of stainless steel products has been negatively affected by the introduction of new trade barriers, in recent years. MEPS predicts that more disruption is possible. - more

      Glasenberg Says He'll Stay for 3 to 5 Years: Glencore Update - Glencore Plc is updating investors Monday as the world’s biggest commodities trader nears the end of a tough year. - more

     Indonesia's Widodo urges miners to move into processing - Indonesian President Joko Widodo on Monday renewed his call for the country's miners to move into processing, citing the need to curb imports to narrow its persistent current-account deficit. - more

      Environmentalists go to court to fight PolyMet mine permits - Several environmental groups went to court Monday to challenge the state Department of Natural Resources' decision to grant the key permits needed for the proposed PolyMet copper-nickel mine in northeastern Minnesota. - 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 3

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.08/lb . Indicators at 6:20am CST today show 3 month nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and Friday and started this week and month just over the 212,800 level. The trading price of nickel turned positive on Thursday and at the moment, is trading back to where it was in mid-November. On its own that is positive, unless you consider had it not been for the slump over the last two weeks, today's trading price would be at 2018 lows. In other words, nickel has dug itself a pretty deep hole to climb out of, so we would suggest keeping the champagne on the shelf. World markets are higher this morning on the news China and the US have agreed to a truce and to extend their negotiations another 90 days. On the cover that looks good, talking means the possibility of an agreement. But it also means there is a strong possibility that the market volatility that has surrounded these talks, will continue, as rumor control and 'news leaks' control traders moods. China steel futures fell sharply at the end of last week, unusual in the sense they fell below the downtrend channel they were stuck in. Up slightly this morning but not enough to get back into their bearish trend channel. The Euro is slightly higher against the US Dollar, but off early session highs. US Dow futures are way up this morning, showing US traders are optimistic about the tariff news. The average rate of decline of LME nickel stockpiles continues to fall, averaging 240.55 tonnes per day, compared to 421 tonnes last month and 764 tonnes the fist six months of the year. Its the beginning of the last month of the 2018. We wish you a prosperous week!
  • Average price of cash nickel so far this month - $5.10/lb (ending average for November)
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning -  Base metals jump on Sino-US trade truce; copper hits near 2-month high - more
  • Reuters Daily Inside Metals - pdf here
  • Nickel Monthly News For The Month Of November 2018 - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Construction of $4b EV Battery Project in C. Sulawesi Set to Start Next Month: Minister - more
  • LG is investing half a billion in its Polish battery factory to increase production - more
  • U.S., China agree on trade war ceasefire after Trump, Xi summit - more
  • (SMM) Downstream nickel PMI dips from Oct to 40.16 in Nov
  • (SO) China's steel sector PMI falls to 45.2 percent in November
  • Commodities Drop Looks Secular, Not Cyclical - more
  • Stocks Soar, Dollar Dips on Trade Truce; Oil Gains: Markets Wrap - more

     Friday's market review - Copper steady as all eyes turn to G20 meeting - Copper prices steadied on Friday ahead of a meeting of global leaders at the G20 summit, where a long-standing trade dispute between China and the United States is expected to take centre stage. - more

      Return of China trade figures reveals strong metal imports: Andy Home - China's imports of refined base metals have been running at a robust pace this year, with flows of copper, zinc and nickel up on a year ago and the country on track to be a net importer of lead for a second year running. - more

      Jokowi Urges Business to Stop Exporting Raw Materials - President Joko 'Jokowi' Widodo urged businesses to stop exporting raw materials. The president asked them to instead focus on developing the downstream industry. - more

      Indonesia's Antam sees higher nickel ore, bauxite exports in 2019 - Indonesian state miner PT Aneka Tambang Tbk (Antam) is aiming to export 5 million tonnes of nickel ore in 2019, up from an estimated 3.9 million tonnes in 2018, Chief Executive Arie Prabowo Ariotedjo told reporters - more

      7% nickel hit for St George near Leonora - The excellent intercepts included 8.49 metres grading 5.78% nickel, 2.64% copper and 0.18% cobalt from 183.9m down-hole, which incorporated a massive sulphide interval of 6.39m going 6.48% nickel, 2.77% copper and 0.21% cobalt from 184.42m deep. - more

      Mergers: Commission opens in-depth investigation into proposed acquisition of VDM by Aperam in nickel alloy industry - The European Commission has opened an in-depth investigation to assess the proposed acquisition of VDM by Aperam under the EU Merger Regulation. - more

      Clive Palmer punches back after Premier Mark McGowan puts him ‘on notice’ over Sino Iron stoush with CITIC - Clive Palmer has come out swinging after Premier Mark McGowan threatened to intervene in the long-running stoush between the billionaire and his estranged Chinese business partner in a bid to protect workers at one of WA’s biggest iron ore mines. - 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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