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news covering the period of December 2020
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Thursday, December 31
Markets are closed Friday for the New Years holiday so our next update
will be Monday, January 4th. May 2021 be a year of health and happiness
for you, and for all of us. As the fictional character, Colonel
Sherman T Potter, in a M*A*S*H New Years TV episode toasted "Here's to
the New Year. May she be a damn sight better than the old one, and may
we all be home before she's over."
Daily Nickel/Stainless Steel Briefing
Nickel closed Wednesday's trading
session at $7.61/lb ($16,780/tonne). Indicators at 6:15 am CST today show
nickel trading around $.06/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Wednesday and started the final day of trading in 2020, at just over
the 246,700 tonne level. Nickel continues to fall and this morning, is
testing another level of technical support at $7.53/lb. Technical
indicators are sending strong sell recommendations, but that can change
in a millisecond, and tends to mirror more what is happening, than
foretelling what will happen. With trading today, the final of the
year, trading houses could be merely squaring their books, and locking
in their profits for the final month/quarter. And with that, we log
another year, and thank you for spending a minute or two of your day
with us. We want to thank each of our 2020 sponsors for making this
daily page possible. And on Monday, one of our first ever site
sponsors is back to start us on another year. May it be a great year
for us all. Stay safe, enjoy your holiday weekend, and we hope to see
you next year.
Average price of LME traded cash nickel
so far this month
- $7.63/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Wednesday's market review - Copper drifts lower in thin
trading as coronavirus cases rise - Copper prices slipped on Wednesday
in depleted volumes as the end of the year approaches, pressured by
surging coronavirus infections driven by a new variant of the virus. - more
Taiwan’s Yusco raises stainless steel prices for Jan 2021 - Yieh United
Steel Corp. (Yusco), a leading stainless steel mill in Taiwan,
announced its new prices for January 2021 today (December 30). - more
Explainer: What's driving New Caledonian protests against Brazilian
mining giant Vale - Riots erupted in December in New Caledonia, a
French territory in the Pacific, with protesters blockading nickel
mines and challenging Brazilian mining giant Vale’s latest attempt to
sell its local business. - more
Brazil, Australia iron ore shipments set 2020 record; China spearheads
other commodities performances; Soybean the best performer - The total
volume of iron ore dispatched to global destinations from Australia and
Brazil was 29.7 million tonnes in December, the highest since June
2019, according to a survey from Mysteel. - more
China iron ore surges over 50% in 2020, up for second straight year - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Wednesday, December 30
Daily Nickel/Stainless Steel Briefing
Nickel closed Tuesday's trading
session at $7.68/lb ($16,925/tonne). Indicators at 6:15 am CST today show
nickel trading around $.06/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Tuesday and started today just over the 246,100 tonne level. Nickel
closed back below the $17,000 tonne level last evening and so far this
morning, has slipped further. Business media appears to be blaming the
new variant of covid that is now popping up all over the globe,
including the first case in the U.S, as spooking the market. We wonder
how much of the LME's trading is actually 'steered' by London traders
and not computer generated. Computers care only about the virus in the
context of its effect on the market, and thus would not be concerned
with the fact that London itself is shut down. Traders working from
home 'in London', who are seeing little more than doom and gloom on
their local news, and out their windows, however, might let their
personal concerns affect their business decisions. It might make for an
interesting study - or not. The Euro is up for the week, which
typically gives support to base metals trading. We show technical
support at $7.60/lb. Stay safe and have a a great day!
Average price of LME traded cash nickel
so far this month
- $7.63/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper drifts lower in thin trading as coronavirus cases rise - more
Tuesday's market review - Aluminium hits lowest level in a
month, copper climbs - Aluminum prices fell to their lowest level
in a month on Tuesday as investors worried that rising production would
add to surpluses, while copper rose on hopes a U.S. aid package would
boost economic activity. - more
Taiwan’s stainless steel mills expected to raise prices for Jan due to
high nickel prices - The LME nickel price has closed the US$17,000/ton
level currently. - more
India likely to impose anti-dumping duty on certain kind of steel
imports from few countries - The government of India is likely to
impose anti-dumping duty for five years on certain type of steel
products from few countries, including Japan and Korea, to guard
domestic players from cheap imports on recommendation from the Commerce
Ministry. - more
Forging industry seeks ban on steel, iron ore exports; Foundry industry demand import duty cuts - more
Facing flak from different quarters, steel manufacturers defend price hikes in letter to PMO - more
Indonesia says $9.8 billion EV battery MOU agreed with LG Energy
Solution - Indonesia and a unit of South Korean firm LG Group have
signed a memorandum of understanding (MOU) on a $9.8 billion electric
vehicle (EV) battery investment deal, the head of Indonesia’s
Investment Coordinating Board said on Wednesday. - more
Courtesy AISI - In the week ending on December 26, 2020, domestic raw
steel production was 1,600,000 net tons while the capability
utilization rate was 72.3 percent. Production was 1,815,000 net tons in
the week ending December 26, 2019 while the capability utilization then
was 78.5 percent. The current week production represents a 11.8 percent
decrease from the same period in the previous year. - more
Has Your Sales Spark Died? - How excited are you about the products and
the market that you are selling into? - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Tuesday, December 29
Daily Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $7.75/lb ($17,095/tonne). Indicators at 6:10 am CST today show
nickel trading around $.01/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Thursday and started today's session just under the 246,800 tonne
level. Nickel jumped back above the $17,000 tonne level on Thursday,
after falling below for a few days prior. Shanghai markets traded both
Friday and Monday and ended higher, with their nickel back to where it
was trading last Wednesday. This morning, little is happening yet, but
the weekend news for commodity traders was mostly bullish, President
Trump signed the stimulus package and since world economies apparently
only exist now with an IV of government stimulus attached to their arm,
traders will see this as positive. A Brexit agreement was reached in
Europe, helping lessen the shock of the UK's departure. And in the
U.S., covid numbers are down - average daily deaths falling by around
500 to less than 2300 per day. Horrific indeed, but better than the
previous seven days. New cases numbers are down as well, and if this
continues, we just might have seen this bubble's peak. We say might, as
we have heard no one actually forecast that. We hope each of you have a
Merry Christmas. Stay safe out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.63/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - London copper edges up on U.S. stimulus paychecks optimism - more
Thursday's market review - Industrial metals cement gains
with hopes of strong demand in 2021 - Copper hovered near its highest
since 2013 on Thursday and other industrial metals rose as investors
bet on strong demand next year and stock markets rallied as the
European Union and Britain agreed a trade deal. - more
Fitch Solutions Forecasts 8.3% Surge in Nickel Mine Output - Australia,
with a solid project pipeline, will continue to remain as a
best-performing major producer. - more
China - Marginal growth in steel use expected - more
Steel Imports Down 22.1% Year-to-Date Through November - Based on
preliminary Census Bureau data, the American Iron and Steel Institute
(AISI) reported today that the U.S. imported a total of 1,370,000 net
tons (NT) of steel in November 2020, including 1,181,000 net tons (NT)
of finished steel (down 9.2% and 5.5%, respectively, vs. October final
data). - more
Apple’s Rumored Entry into EV Industry Has Implications for Miners of
EV Battery Metals - This week, market reports of Apple’s potentially
producing a battery-powered electric vehicle (EV) again began to
surface. - more
November Breaks Italy’s EV Sales Records As Fiat 500e Enters Market - more
The unstoppable rise of iron ore: A global perspective - Iron ore
prices are soaring. Prices have reached approximately $160 per tonne by
the middle of December. - more
Distributor Pandemic Revenue Index Shrinks Further to Just Above
Breakeven - Though it was a second-straight deceleration week, it was
the fifth-straight positive reading. - more
How Different Business Sectors Fared During a Pandemic-Stricken 2020 - more
Record month for new powerboat retail sales - more
Understanding the Impact of COVID-19: The Top Five LSE Posts of 2020 - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Thursday, December 24
The London Metal Exchange is closed Monday for Boxing Day, so our next update will be Tuesday, December 29th. Have a very Merry Christmas!
Daily Nickel/Stainless Steel Briefing
Nickel closed Wednesday's trading
session at $7.66/lb ($16,880/tonne). Indicators at 6:15 am CST today show
nickel trading around $.07/lb
higher, Stockpiles of nickel stored in LME licensed warehouses rose on
Wednesday and started today's session just under the 246,700 tonne
level. Nickel has bounced off a technical line of support with some
gusto, and the recent decline appears to have been little more than a
trap for the bears to short the market, and now be forced to cover the
bet. There is always the chance the gamble may still pay off for the
shorts, but we will let them hold their breath, so that we don't have
to hold ours.Reuters gave the reasons for the increase in base metals as
"thanks to strong Chinese demand and massive speculative investment."
We question the 'strong Chinese demand', although we are reading
Chinese media reports that producers are stockpiling ahead of the New
Year shutdown, which comes on February 12th this year. We are also
seeing reports of shutdowns being ordered for metal producers in
certain cities thru the end of the year due to power shortages. The
'massive speculative investment' is what fuels many bullish runs, and
these many times turn into little more than bullish bubbles that pop.
And while stainless steel down stream distributors and users hope for
price stability, they have grown accustomed to these price spikes. It's
Christmas Eve and the London Metal Exchange is closed tomorrow for
Christmas, and Monday fro Boxing Day. Our next update will be next
Tuesday. We wish our readers the healthiest and Merriest of Christmas'!
Average price of LME traded cash nickel
so far this month
- $7.62/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Industrial metals cement gains with hopes of strong demand in 2021 - more
Wednesday's market review - Copper pushes back towards
highs as investors regain nerve - Copper prices pushed back towards
multi-year highs on Wednesday, with stock markets and oil prices also
rising as investors who had been spooked by the emergence of a more
contagious variant of the coronavirus regained their nerve. - more
Taiwan’s stainless steel prices impacted by surging prices of carbon
steel scrap - It was expected that Taiwan’s main upstream mills will
hike their stainless steel prices for January 2021 due to the high
costs of nickel and scrap. - more
MySteel Global – Demand-side reform to drive China’s steel in 2021 -
2021, the first year of the 14th Five-Year Plan period (2021-2025),
will mark the start of demand-side reform in China’s economy and global
market, and China’s steel industry will also be driven by demand, with
its growth outpacing that in supply to reach its peak in the next five
years, Wang Jianhua, Mysteel’s chief analyst, shared at the Mysteel
Annual Summit in Shanghai on December 20. - more
China to lower import tariff on more products in high demand for 2021 - more
Rosstat: Russian stainless steel production increases in Nov y-o-y -
According to statistics from the Russian Federal State Statistics
Service (Rosstat), Russian stainless steel production totaled around
16,200 tons in November, increasing by 22.1% from the same month a year
ago and also up by 5.8% compared to the previous month. - more
Revisiting iron ore pricing mechanism holds risks and opportunities for
market - An almost doubling of iron ore prices over the past six months
led Chinese steelmakers last week to call for a change in the current
pricing mechanism. - more
COVID, Acquisitions Dominate ID's Top 20 News Items of 2020 - COVID-19
dominated all news cycles in 2020, and it was no different on ID. Take
a look at what made the biggest waves this past year. - more
Studying the onset of galvanic steel corrosion in situ using thin
films: film preparation, characterization and application to pitting -
This work reports about a novel approach for investigating surface
processes during the early stages of galvanic corrosion of stainless
steel in situ by employing ultra-thin films and synchrotron X-radiation.
- pdf here
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Wednesday, December 23
Daily Nickel/Stainless Steel Briefing
Nickel closed Tuesday's trading
session at $7.56/lb ($16,675/tonne). Indicators at 6:15 am CST today show
nickel trading around $.01/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and started today just over the 246,300 tonne level. Nickel is
struggling this morning, and testing a technical line of support.
Technical signals were sending a strong sell signal last night, but are
neutral this morning. U.S. stainless steel surcharges for January 2021
are out, and at their highest since November of last year (posted here).
The average price of LME cash nickel is at its highest since October of
last year. For those new to the stainless steel industry and wonder why
we spend so much time on nickel, you have your answer. Consumer Reports
is reporting that
71% of U.S. drivers surveyed said they were interested in getting an
electric car - someday. EV sales in Europe are setting records, so the
potential
for this industry to start sucking up larger amounts of nickel for
their
batteries is mind boggling and has nickel bulls salivating. In the mean
time, for those of you who sell stainless steel and have sales quota's
to
meet, there is a benefit to higher prices. If one can maintain their
profit margin during a period of price increases, higher cost means
higher sales, without higher volumes. It's no growth, growth, and the
opposite can become
painfully clear in a market heading in the opposite direction. Then
higher volumes are necessary just to cover lower sales dollars on
maintained profit margins. Today is Wednesday, for but for may of us,
we have already passed the week's hump, with tomorrow being Christmas
Eve. Stay safe out there, and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.63/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Nickel hits 2-week low as virus, iron ore trading curb weigh - more
Tuesday's market review - Lead steadies as growing
stockpiles weigh - Lead prices steadied on Tuesday from four days of
losses as rising stockpiles and expectations of surplus supply added to
fears that a more infectious variant of the novel coronavirus will slow
global economic recovery and metals demand. - more
November 2020 crude steel production - World crude steel production for
the 64 countries reporting to the World Steel Association (worldsteel)
was 158.3 million tonnes (Mt) in November 2020, a 6.6% increase
compared to November 2019. - more
Asian stainless mills withdraw offers as nickel surges - Global
stainless steelmakers are scrambling to adjust their pricing levels,
due to rapidly escalating nickel costs. - more
Non-Ferrous Metals Export Down in January-October 2020 - According to
the RF Federal Customs Service, during January-October 2020 Russia
exported 2.1 mn tons of unwrought aluminum, down 14.3% year-on-year. In
terms of value, unwrought aluminum export declined by 19.2%
year-on-year down to $3.3 bn. - more
Apple eyes autonomous electric car to rival Tesla with “breakthrough”
battery - (excerpt) This is not only cheaper to make than the typical
nickel-manganese-aluminium (NCA) chemistry of today’s lithium-ion
batteries, but is also less likely to overheat. - more
Will Apple’s EV benefit Korean battery industry? - more
The rise and rise of iron ore - Iron
ore prices are soaring. Values reached approximately US$160 per tonne
by the middle of December. This level was last recorded in early 2013.
- more
MySteel Global – CISA predicts iron ore price to correct downward - more
2021 metal fabrication forecast: The road to recovery continues - How
fabricators perform next year depends on end markets, more shops
embracing the fiber laser - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Tuesday, December 22
Daily Nickel/Stainless Steel Briefing
Nickel closed Monday's trading
session at $7.84/lb ($17,275/tonne). Indicators at 6:05 am CST today show
nickel trading around $.12/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Monday and started today just shy of the 245,100 tonne
level. Nickel is sharply lower this morning, but is still well above a
two week low. While metals and minerals are mostly lower this morning,
the Euro has recovered and there is no panic selling of commodities.
Yet. There is always that outside danger that the bears could jump in
and short the market heavily, and technical levels under pressure could
see the price plummet. And there is always the chance this is an
opportunity for the bulls to sucker the bears into an investment trap.
We never know what is actually happening, until after the fact. One of
the reasons we report on the market, and our risk threshold is too low
to actually 'play' the market. If you follow the SHFE Stainless Steel
Future price below, you will notice is dived last night. Its lowest
this month was 13,065 and its highest was 13,945 yesterday. Today's
drop to 13,255 was one of the biggest one day movements we have seen
since it began trading. May mean little, but we have noted that some
metals analysts watch this as a sign of stainless steel sales and
pricing activity in China. Slow news day, but that is too be expected
the next few weeks. Stay safe out there, and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.62/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Lead prices tumble as stockpiles grow - more
Monday's market review - Industrial metals fall as new
virus strain unnerves markets - Copper and other industrial metals
prices sagged on Monday as a more infectious strain of the coronavirus
threatened to wreak further damage on the global economy and investors
ditched riskier assets. - more
Indian ISSDA hopes government to cancel import duty on ferronickel
& stainless steel scrap - In the coming Budget for the fiscal year
2021-22 requested to the Indian Ministry of Finance, the Indian
Stainless Steel Development Association (ISSDA) urged the government to
cancel import duty on ferronickel and stainless steel scrap, which are
currently subject to a basic customs duty (BCD) of 2.5%. - more
Courtesy AISI - In the week ending on December 19, 2020, domestic raw
steel production was 1,619,000 net tons while the capability
utilization rate was 73.2 percent. Production was 1,815,000 net tons in
the week ending December 19, 2019 while the capability utilization then
was 78.5 percent. The current week production represents a 10.8 percent
decrease from the same period in the previous year. Production for the
week ending December 19, 2020 is up 3.3 percent from the previous week
ending December 12, 2020 when production was 1,567,000 net tons and the
rate of capability utilization was 70.9 percent. - more
Gazing Into Manufacturing and Distribution's 2021 Crystal Ball -
COVID-19 debunked our belief that digital transformation was already
the norm. Here's what will be key in the new year. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Monday, December 21
Daily Nickel/Stainless Steel Briefing
Nickel closed Friday's trading
session at $7.94/lb ($17,495/tonne). Indicators at 6:10 am CST today show
nickel trading unchanged.
Stockpiles of nickel stored in LME licensed warehouses rose
on Friday and started this week just shy of the 245,200 tonne level.
Nickel spiked higher earlier today, but a sharply lower Euro may be
putting too much negative pressure on traders, and at present, nickel
is down $5 per tonne. It appears, thru trading this morning and over
the past few weeks, that the $8.05/lb level has been putting up
strong
resistance.The Euro is lower, as are U.S. futures, on concerns over the
new strain
of covid that has forced London to shut down, and fellow European
countries to ban traffic to and from that country. This new strain is
not being reported as being anymore dangerous than the others, but it
is apparently 60% more contagious. Fitch Solutions, in a new quarterly
report, is
forecasting nickel will average $15,250/tonne in 2021. This is an
increase of $250/tonne from a prior forecast. It's Christmas week and
typically, this and next week, are a Vice President of Workplace
Productivity's worst nightmare. Both are short week's, with U.S.
markets closed both Friday's, and London being closed these two days
and next Monday as well, for Boxing Day. This may be a different
holiday season than any of us have experienced before, but news flash,
Christmas has not been cancelled. And contrary to recent conspiracy
theories, Santa has not been quarantined, and his visa's have not been
cancelled. However, it is more important this year, than in past years,
that the kids are asleep and kept socially distant from the white
bearded trespasser. And it probably wouldn't hurt, to leave out a
little hand sanitizer with your cookies and milk. Christmas is for the
kids .... and the kid in each of us ..... so this week, its very
important that we take care of the kids .... big and small. Be safe
out there, enjoy your short week, and Merry Christmas you big old kid.
Average price of LME traded cash nickel
so far this month
- $7.61/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Friday's market review - Copper pares gains after breaking
above $8,000 level - Copper pulled back after breaching the $8,000 a
tonne level on Friday as some investors were cautious due to a tapering
off of physical demand at high prices. - more
Base Metals Get Supercharged Thanks to China Rebound - Industrial
metals are well on their way to being among the top performers of 2020,
supported by red hot demand from China and global supply concerns. - more
5 reasons why commodities prices have jumped in recent weeks -
Industrial metals such as copper, iron ore and palladium have seen a
sharp rise so have crude and rice. - more
Eramet's New Caledonia nickel smelter to boost power as blockades ease
- The nickel smelter of French group Eramet’s SLN subsidiary in New
Caledonia will ramp up power again on Monday after the easing of
blockades that disrupted ore supply, SLN said. - more
Inside Supply Management’s Best of 2020 - For supply management
professionals, the mere mention of the number will invoke the most
challenging year of their careers — and for many, changes on the job
were accompanied by significant personal-life adjustments. - more
Despite Solid October Gain, US Cutting Tool Orders Still Down 22% YoY - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Friday, December 18
Daily Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $7.95/lb ($17,525/tonne). Indicators at 7:00 am CST today show
nickel trading around $.04/lb
higher. Stockpiles of nickel stored in LME licensed warehouses went
unchanged on Thursday, and remain just above the 244,200 tonne level.
The trend line for the week is flat, but beyond that, including back to
the end of March, the trend line remains bullish. The Reuters Metals
Morning report is worth reading. While analysts tend to focus on
copper, as they do in today's report, what affects one base metal, can
and often does, effect the others. Fundamentals gives each their
independence from the others in the base metals group, but in
speculative markets, like the one we are in now, the level of risk over
the commodity spectrum, can be a beacon for all. For instance, copper
entered their 2020 bull market the exact same day nickel did. Aluminum,
a few weeks later. World stainless steel production fell about 8% YOY
during the first nine months of this year, according to statistics
released by the ISSF yesterday. And it's Friday. Another week is nearly
in the bag and with holiday breaks approaching, it makes it the last
full week of the year. Stay safe out there, enjoy your weekend, and
with only a week left, Merry Christmas!
Average price of LME traded cash nickel
so far this month
- $7.58/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper pares gains after breaking above $8,000 level - more
Thursday's market review - Copper pushes towards highest
since 2013 with $8,000 in sight - Copper prices neared their highest in
almost eight years on Thursday as stockpiles around the world fell, the
U.S. Federal Reserve promised to pump more money into markets and hopes
for a U.S. stimulus package this week grew. - more
Stainless steel production decreases by 7.8% to 36.7 million tons in
the first nine months of 2020 - The International Stainless Steel Forum
(ISSF) has released figures for the first nine months of 2020 showing
that stainless steel melt shop production decreased by 7.8%
year–on–year to 36.7 million metric tons. - more
Major Arctic polluter will shut down harmful smelting works on
Christmas Day - An industrial facility in Russia long responsible for
harmful pollution will shut down on Christmas Day, a move cheered by
Bellona, which has long sought to staunch emissions fouling the
northern reaches of Norway and endangering health on both sides of the
border. - more
South Korean enterprises request to cancel AD investigation on
stainless steel from Taiwan, China, Indonesia - The Korean Trade
Commission (KTC) initiated an anti-dumping investigation on stainless
steel coils from Taiwan, China, and Indonesia at the request of POSCO
on September 17. - more
Putin: Nornickel should bear responsibility for Arctic fuel spill -
Russian President Vladimir Putin said on Thursday that nickel and
palladium producer Norilsk Nickel should bear responsibility for a
major fuel spill at its power station in the Russian Arctic earlier
this year. - more
PTDA Raises 2021 Outlook - The association's Q3 sales index halved the
year-over-year severity of decline from Q2. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Thursday, December 17
Daily Nickel/Stainless Steel Briefing
Nickel closed Wednesday's trading
session at $7.90/lb ($17,415/tonne). Indicators at 6:00 am CST today show
nickel trading around $.07/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell on
Wednesday and started today just over the 244,200 tonne level. Nickel
closed at its lowest this week on Wednesday, but trading has rebounded
this morning after hitting a low around $7.86/lb. For the time being,
the bull may be taking a break to build momentum for another run at a
six year high, although we are seeing a stronger Euro, and that will
keep the bulls interested. Shanghai nickel fell to its lowest since
last Friday, with stainless futures up, but actual 304 SS in China
losing some steam overnight. MEPS is reporting the steel industry in
Europe is in a panic mode, due to shortages there (article linked
below). Lots of reports posted on Wednesday and linked below as well.
It's Thursday and only one week left until Christmas Eve. Stay safe out
there and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.55/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - London copper set to gain for third day on U.S. stimulus hopes - more
Wednesday's market review - Copper heads towards 8-year
high on demand hopes and inventories - Copper prices rose towards
eight-year highs on Wednesday as optimism about strong demand in top
consumer China was reinforced by falling inventories, a lower dollar
and the rollout of COVID-19 vaccines in some major economies. - more
Stainless steel prices in Taiwan's market bounce due to soaring nickel
prices - Under the influence of the high-level nickel price in the
international market, as well as the increasing stainless steel price
in the Chinese market, mainly caused by the lack of material, Taiwan's
stainless steel market situation turns better currently. - more
January to October 2020 Metals Balances - The nickel market was in
surplus during January to October 2020 with production exceeding
apparent demand by 63.7 kt. In the whole of 2019, the calculated
deficit was 27.6 kt. - more
Equipment torched as worker protest paralyzes Indonesia nickel plant -
Violent protests by hundreds of workers at one of Indonesia’s biggest
nickel smelters on Sulawesi island operated by PT Virtue Dragon Nickel
Industry (PT VDNI) had “paralyzed” its activities, the China-backed
company said in a statement. - more
European steel market in panic mode - European steelmakers continue to
raise their prices for new transactions on almost a daily basis. - more
Distribution Trends Emerging in 2021 - Next year will see unique trends
in the distribution section that contradict the hype around a slowdown
in strategic growth and technology investment. - more
Distributor Pandemic Revenue Index Regresses to Modest Growth - Though
down considerably from the week before, the newest reading was the
fourth-straight with at least 2.9 percent year-over-year growth. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Wednesday, December 16
Daily Nickel/Stainless Steel Briefing
Nickel closed Tuesday's trading
session at $7.98/lb ($17,590/tonne). Indicators at 6:15 am CST today show
nickel trading around $.07/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and started today just over the 244,300 tonne level. LME
warehouses have 2,652 more tonnes of nickel in their stockpiles than
they did at the beginning of the month. Nickel is lower this morning
and there is no real clear answer why, with the news mostly being
bullish. Strikes have spread from New Caledonia to the more important
supply source of Indonesia. The Euro traded for its highest level since
2018 earlier this morning. And Shanghai markets saw nickel ending
higher and the stainless steel future price jumping sharply. But after
hitting $8.10/lb yesterday, nickel has been in a slow decline, that
picked up a little steam in overnight trading. One can see the
volatility of the market, when comparing yesterday's LME official cash
price of $8.01/lb to the monthly average we maintain of $7.52/lb. This
has been a good week for industry related news so we leave you with it.
Half the month is behind us and half the week is upon us. Stay safe and
have a great day!
Average price of LME traded cash nickel
so far this month
- $7.52/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper rises as China data, vaccine roll-out boost sentiment - more
Tuesday's market review - China data and vaccine optimism
lift copper price - Copper prices were supported on Thursday by factory
data from China showing economic growth in the metal’s top consumer and
also helped by the COVID-19 vaccine rollout in major economies. - more
Protest at China-backed nickel-smelting firm in Indonesia turns
violent, with buildings and vehicles torched - A demonstration by some
800 Indonesian
workers looking for a pay rise from a Chinese-backed nickel firm on
Sulawesi island turned violent on Monday, with buildings and heavy
machinery torched after management failed to meet the protesters. - more
Equipment torched as worker protest paralyses Indonesia nickel plant - more
Tsingshan Iron and Steel’s Anti-dumping Investigation - more
Funds flock to base metals, but will they stay? Andy Home - Funds have
returned to the base metals complex in a big way as investors buy into
the COVID-19 recovery story. - more
Crystal gazing at 2021 commodities cycle – only bet is on the pace of
coronavirus recovery - The spread of the Covid-19 pandemic led to
lockdowns and economic devastation across the world. - pdf here
Iron Ore Rockets To $160 A Ton And China Cries Foul - Like all trade
wars the David v Goliath fight between China and Australia is morphing
into a lose/lose game of point scoring with China trying to humiliate
its smaller target only to see Australia skip away unscathed, so far. -
more
When the Highest Bid for Contractual Agreements Still Wins the Price War - An
excellent sales rep knows how to submit a bid that is higher than the
rest of the competition and still win the contract. Here’s how. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Tuesday, December 15
Daily Nickel/Stainless Steel Briefing
Nickel closed Monday's trading
session at $7.98/lb ($17,600/tonne). Indicators at 6:15 am CST today show
nickel trading around $.05/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Monday by nearly 1000 tonnes and started today just over the 244,200
tonne level. Nickel tested $8.06/lb twice yesterday, but $17,770/tonne
appear to be putting up some resistance. $17,900 is still the level we
are watching, and if traders breech that level with any kind of
momentum, then there is no telling when the bull will be brought under
control. The last time nickel traded at $17,901 was back in 2014. The
next few weeks could prove interesting, or depressing if you have to
buy nickel laden stainless. Some stainless inventory is depleted due to
the instability in markets, so this would be the worse time to restock
unless you believe the bull has a lot more staying power. China nickel
broke with playing follow the leader with the London Metal Exchange
overnight, with nickel closing lower. The US saw its 300,000 covid
fatality yesterday, and will see its 17 millionth confirmed case today.
The seven day average rate is now over 2500 deaths per day. India,
which has had the second highest number in cases, will reach 10 million
confirmed cases today. Brazil will pass 182,000 deaths today, having
the second highest number of fatalities in the world. It's Tuesday and
the half way point in the month. Only two more weeks left of 2020. Stay
safe out there and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.47/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Industrial metals slip as virus resurgence weighs - more
Monday's market review - Industrial metals climb on
optimism over vaccine rollout - Base metals rose on Monday as investors
pinned hopes for a global economic recovery on the rollout of
coronavirus vaccines and progress in Brexit talks. - more
“Long-lasting bull market for virtually all commodities”: Goldman Sachs
- The world is entering a “long-lasting bull market” for commodities,
with even oil set to benefit as recent underinvestment, dollar
weakness, government spending and the energy transition boost demand
across the board, Goldman Sachs’ global head of commodities research,
Jeffrey Currie, said. - more
Metal Shipments Close to Year Ago Levels in the U.S. and Canada - Steel
and aluminum shipments in the U.S. declined modestly in November
compared with earlier months this year. In Canada, steel shipments were
essentially flat with year-ago levels and up significantly in aluminum.
- more
Stainless steel prices in Southeast Asia increase - According to the
market news from Southeast Asia, the recent export price of stainless
steel from China to Southeast Asia showed a strong increase, mainly
caused by the strong nickel price and unstable freight rate. - more
Fire breaks out at Vale mine amid protests in New Caledonia - A fire
broke out at nickel mining facilities owned by Brazil’s Vale SA in New
Caledonia during local protests, the company said on Monday, as a
simmering political dispute on the Pacific Island shows no signs of
abating. - more
Battery with more nickel could be an electric vehicle breakthrough - A
new battery material design relying on more nickel could lead to
electric vehicle power systems that are cheaper and offer greater
range. - more
Tesla and Indonesia look to secure supply chain partnership - Tesla
will send a team of representatives to Indonesia in January to scout
the possibility of establishing a supply chain partnership, the
country’s government said in a statement on Saturday. - more
Nickel reserves, Job Creation Law may help Indonesia attract Tesla: Expert - more
Russian stainless steel market results in Nov 2020 - According to
statistics, in November of this year, the volume of apparent
consumption of stainless steel in Russia increased by 6.3% compared to
the same period a year ago. - more
US Metalworking Machinery Orders' Year-Over-Year Gap Continues to Narrow - October
orders for manufacturing technology were down 20 percent
year-over-year, but that's a major improvement from this past Spring. -
more
In the week ending on December 12, 2020, domestic raw steel production
was 1,567,000 net tons while the capability utilization rate was 70.9
percent. Production was 1,815,000 net tons in the week ending December
12, 2019 while the capability utilization then was 78.5 percent. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Monday, December 14
Daily Nickel/Stainless Steel Briefing
Nickel closed Friday's trading
session at $7.87/lb ($17,360/tonne). Indicators at 6:15 am CST today show
nickel trading around $.34/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Friday and start the week near the 243,300 tonne level. The increase we
are showing this morning is real and nickel is now trading only $.12/lb
lower than it was in 2014. Back on August 1st of last year, nickel
traded at $17,900/tonne for a moment, before entering a bear market
that lasted until March 1st of this year, with prices bottoming out
just under the $11,500/tonne level. On March 1st, while pandemic was
still a word so new to our daily vocabulary, that many of us were still
learning how to spell it properly, nickel started its most recent bull
market. On Tuesday of last week, the bull got a fresh shot of
adrenaline and the market appears to have gone bat crap crazy. Business
media has a list of reasons they give in their daily articles, but most
of these are listed in the books "How to Explain the Unexplainable in
Six Simple Words" or "Article Title's For Markets Out of Control". In
other words, speculative poppycock. The markets are optimistic, which
is great, but that optimism is, or has, lost all sense of reality. And
stainless steel users are set to learn that the hard way, when prices
increase again next month. It's Monday again, and words comes, that
Indonesia not only wants Elon Musk's next EV battery factory, and next
EV car factory, but also want to launch his space rockets from the
island chain. Tad greedy, don't you think? New Caledonia natives,
having lost the most recent Independence vote, have zoned in on Vale's
old Goro mine, as their trigger point for protests against France. And
in Canada, Vale's Coleman mine hits 50 years old. It's Monday, and the
calendar offers another week. Stay safe out there and have a great day
..... and week.
Average price of LME traded cash nickel
so far this month
- $7.41/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - LME base metals rise on vaccine optimism, U.S. stimulus hopes - more
Friday's market review - Copper slips on profit-taking
amid worries on Brexit, U.S. stimulus - Copper slipped on Friday after
touching another multi-year peak, hit by profit-taking amid worries
about a U.S. stimulus deal and a potential collapse in Brexit trade
deal talks. - more
Eramet's New Caledonia nickel smelter low on ore after protests - The
nickel smelter of Eramet SA’s SLN subsidiary in New Caledonia is
running low on ore due to widespread protests over the sale of another
nickel operation in the French Pacific territory, Eramet said on
Friday. - more
Protests erupt in New Caledonia over proposed sale of major nickel mine - more
SLN mine still shut amid New Caledonia nickel debate - more
Tesla teams to visit Indonesia to check on investment in EV components:
government - Tesla, the U.S. automaker, will send delegations to
Indonesia next month to discuss potential investment in a supply chain
for its electric vehicles, the government said on Saturday in a
statement. - more
Indonesia courts SpaceX as new rocket launch site - more
Vale's Coleman Mine marks 50 years in operation - Vale marked the 50th
year in operation of its Sudbury-area Coleman Mine on Dec. 10. - more
Success of Twin Metals copper mine hinges on holding every last drop of
tainted water - The Twin Metals copper-nickel mine would cover nearly 2
square miles at the north end of Birch Lake, at a joint where the South
Kawishiwi River runs north to the Boundary Waters Canoe Area
Wilderness. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Friday, December 11
We sent out invoices on Monday for all reserved 2021
sponsorships. If you did not receive an invoice or we have not
reserved a particular month for you, please contact us again. We
still have monthly sponsorships available for those who might be
interested.
Daily Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $7.89/lb ($17,390/tonne). Indicators at 7:15 am CST today show
nickel trading around $.06/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell on
Thursday and started today's session just under the 243,200 tonne
level. The bulls took the markets higher yesterday, and while things
have calmed this morning, with some minor profit taking, it is becoming
apparent the bulls have no intention of settling down in greener
pastures yet. The highest nickel has traded since 2014, was when it hit
$17,900/tonne ($8.12/lb) on August 1st of last year. That is now worth
watching, as business media use words like 'boom' and 'demand' in their
headlines, only to retreat to such words as 'speculation' or
'forecasts" in their articles. While stainless steel futures in China
do not reflect any change in what has been happening there most of the
year, the resurgence in iron ore prices, have given traders hope.
Reuters reports "Analysts at ANZ said nickel prices would average
around $16,500 a tonne in 2021." One would like to think that all of
this market enthusiasm is based on an overall change in the mood of the
market, and that attitudes are getting a positive boost from the
vaccine announcements this past week. On the other hand, they need to
be careful not to price stainless steel markets out of a very
competitive and in some cases, still struggling environment. While the
news that the fire trucks are on the way is helpful, the forest fire is
still eating up trees and homes in the mean time. So stay safe out
there, and have a relaxing and enjoyable weekend.
Average price of LME traded cash nickel
so far this month
- $7.36/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper slips on profit-taking, worries over Brexit, U.S. stimulus - more
Thursday's market review - Nickel leaps to highest since
October 2019 on steel boom - Nickel rose more than 4% on Thursday
as resurgent demand from Chinese steel mills and a rapid rally in iron
ore futures fuelled a rush of speculative buying, pushing prices above
$17,500 a tonne for the first time since October 2019. - more
Sizzling industrial metals rally set to stretch into 2021 - Industrial
metals, the best-performing commodities sector over the past six
months, look set to extend their surge into 2021 as a China-led global
economic recovery, a weak U.S. dollar and potential supply disruptions
continue to lend support. - more
For commodities, 2021 is a times a-changin' bet on the pace of coronavirus recovery: Russell - more
Tensions flare on restive French Pacific island over nickel plant sale
- French police evacuated workers from a nickel plant operated by
Brazilian mining giant Vale on the French Pacific island of New
Caledonia on Thursday after pro-independence activists attempted to
storm the facility to prevent its sale. - more
Sulfide mining rules change delayed by typo; Canadian firm eyeing 2
sites in Wisconsin - Efforts to update Wisconsin's nearly 40-year-old
rules on sulfide mining hit a snag Wednesday over an apparent missing
word that determines when tribal governments should be notified. - more
October Steel Shipments Down 14.7% from October 2019 - The
American Iron and Steel Institute (AISI) reported today that for the
month of October 2020, U.S. steel mills shipped 6,747,709 net tons, a
1.3 percent increase from the 6,662,904 net tons shipped in the
previous month, September 2020, and a 14.7 percent decrease from the
7,914,276 net tons shipped in October 2019. - more
Distributor Pandemic Index Has Largest Non-Holiday Gain Yet - It bucked
a three-month holding pattern of low to mid-single-digit growth. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Thursday, December 10
Daily Nickel/Stainless Steel Briefing
Nickel closed Wednesday's trading
session at $7.59/lb ($16,730/tonne). Indicators at 6:15 am CST today show
nickel trading around $.05/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Wednesday and started today just over the 243,400 tonne
level. The nickel bulls proclaimed they were in charge yesterday, and
nickel ended much higher. It continues higher this morning. Shanghai
stainless steel futures are trading higher than they were when the
month started, but well off their highs of last months, so this implies
production in China has not yet recovered from its recent
slowdown. EV sales continue to climb, and in some areas of the world,
are setting new records. LME stockpiles are higher than they were when
the month started, and well above where the year started. Vaccine
approvals are giving hope but the process of inoculating the world, and
seeing this coronavirus become a part of history, will not be
accomplished until well into the future. In the mean time, the U.S.
added just under 1/4 million new cases yesterday, saw over 3,000 more
Americans die, and the current spike has yet to peak. So why are
nickel prices racing higher? Your guess is as good as ours, but it
appears much of the trading is based on technicals, and not
fundamentals. So sit back, and watch the ride, and we wouldn't be
completely out of line, based on historical precedent, to say we could
easily see nickel do what the Starship SpaceX did yesterday. Stay safe
and enjoy your Thursday!
Average price of LME traded cash nickel
so far this month
- $7.32/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Aluminium rises on supply concerns, copper recoups losses - more
Wednesday's market review - Vaccine optimism pushes
industrial metals higher - Copper and other industrial metals rose on
Wednesday as optimism over the rollout of coronavirus vaccines
bolstered expectations for a rebound in global economic growth and
metals demand. - more
Strong iron ore prices support higher steel prices globally - Prices of
iron ore and steel generally rise in tandem. Contributing to strong
iron ore prices are Vale’s delayed recovery in iron ore production and
solid Chinese demand. - more
AISI Releases November SIMA Imports Data - Based on the Commerce
Department’s most recent Steel Import Monitoring and Analysis (SIMA)
data, the American Iron and Steel Institute (AISI) reported today that
steel import permit applications for the month of November totaled
1,408,000 net tons (NT)*. - more
How to Upskill Face-to-Face Salespeople for Virtual Selling -
Industrial sales heavily relies on in-person relationships. So, what
are the top skills virtual sales teams must improve? - more
How to overcome metal fabrication’s recruitment challenge - more
Is it Time to Fire a Customer? - Distributors will typically do
anything they can to keep a customer, but everyone has their breaking
point. - more
Knight Architects’ stainless-steel bridge opens in Lake District - The
55m-long crossing – the UK’s first stainless-steel road bridge –
replaces a 250-year-old three-span stone arch bridge, destroyed by
flooding five years ago - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Wednesday, December 9
Daily Nickel/Stainless Steel Briefing
Nickel closed Tuesday's trading
session at $7.45/lb ($16,425/tonne). Indicators at 6:15 am CST today show
nickel trading around $.05/lb
higher. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Tuesday and started today just under the 243,500 tonne
level. Nickel spent another day doing a whole lot nothing yesterday,
but bulls appear to be pushing their luck this morning. The Euro is
still stuck in idle, so while it is not offering much new help, it is
not helping the bears either. Currently nickel is trading off its early
morning high, bu the bulls do not appear to be giving up just yet, and
fighting to hold onto their gains. England gave its first immunization
shots yesterday. One down and about 7,800,000,000 more to go. Sorry,
this is a two shot shot - so make that nearly 16 billion more to go. At
1 million shots a day, 7 days a week, that means we will attain 100%
immunization in about 44 years. So get in line early - it could be a
long wait. Somebody needs to start working on an invisible mask that
actually works. Could probably make a fortune as we suspect they will
be around awhile. Hey, it's hump day, and this afternoon, we start the
down hill slide toward the weekend. Any goals today? Ever heard of
someone winning a race by watching from the sidelines? Stay safe out
there, have a great day, and go get 'em!
Average price of LME traded cash nickel
so far this month
- $7.30/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper rises on Britain's vaccine rollout, U.S. stimulus hopes - more
Tuesday's market review - Copper rally falters as prices
slip from multi-year high - Copper edged down on Tuesday from the
previous session’s multi-year peak, but strong demand and forecast
supply shortages are expected to keep prices high. - more
MySteel Global – China’s Jan-Nov steel exports down 18%, imports up 74%
- China exported a total of 48.8 million tonnes of finished steel over
January-November, down 18.1% on year, while its finished steel imports
surged 74.3% on year to 18.9 million tonnes over the same period,
according to the latest statistics released by the country’s General
Administration of Customs on December 7. - more
Goldman's Metal Bull Has Tunnel Vision - The metal bulls are charging.
Goldman Sachs Group Inc., which sees a commodities rally ahead on a par
with the 2000, says copper could test its record high of just over
$10,000 by 2022. - more
The Number Nine Shaft at Vale's Stobie Mine site is being demolished -
Officials with the company say the structure will be demolished this
week - more
India decides to extend AD duties on cold-rolled stainless steel from 6
countries & EU - According to the announcement from the Central
Board of Indirect Taxes and Customs (CBIC) of India, at the request of
producers, India has decided to extend the anti-dumping (AD) duties on
cold-rolled stainless steel sheets from China, Taiwan, South Korea, the
EU, South Africa, Thailand, and the US, until January 31, 2021. - more
What Should Distributors Do When a COVID-19 Vaccine Arrives? -
Mandatory vaccinations for employees have, historically, been legal and
not necessarily uncommon. - more
US Productivity Increased at 4.6% Rate in Third Quarter - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Tuesday, December 8
Daily Nickel/Stainless Steel Briefing
Nickel closed Monday's trading
session at $7.43/lb ($16,370/tonne). Indicators at 6:15 am CST today show
nickel trading around $.02/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Monday and started today just under the 243,600 tonne level. Nickel
pulled a yawner yesterday. closing on $30/tonne lower than Friday's
close. The market is back up by about $40/tonne this morning, so unless
something else happens, today will be equally exciting. Market analysts
seem to be split on why markets are doing what they are doing this
morning. Most seem to blame the coronavirus spike, where the seven day
average of deaths hit 2,300 Americans a day yesterday, an all time
record high. Others are blaming the tension between China and the U.S.,
after the latter placed sanctions on fourteen Chinese legislators for
their part in the new security law for Hong Kong. Since nickel has done
very little this week, we suspect it probably has a lot to do with the
fact the Euro appears to have lost steam in its advance against the
U.S. Dollar. It's that day again, friendless Tuesday. They sing songs
about Monday and Friday, make commercials about Wednesday, even have
catchy phrases for Thursday, but poor little Tuesday seems to be that
24 hour spread between the start of the week and half way to the half
way point in the week. It's not Monday, but it seems so far from
Friday. the love appears lacking. But Tuesday can be your personal day
of the week - the day you make those calls you really would rather not
make. Do your dirty work this Tuesday, and enjoy the rest of the week.
Stay safe and have a great day!
Average price of LME traded cash nickel
so far this month
- $7.28/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper slips from near 8-year high on U.S.-China tensions - more
Monday's market review - Copper retreats from 8-year peak
on profit-taking - Copper prices slipped on Monday after earlier
hitting near eight-year highs as profit-taking on long positions
triggered by data showing a drop in copper imports by top consumer
China was reinforced by a firmer dollar. - more
US stainless steel market worries short supply on soaring future demand
- The recent rebound of demand in the US stainless steel industry has
led to shortages for several kinds of steel. - more
China's November iron ore imports fall 8.1% m/m on falling shipments -
China's November iron ore imports fall 8.1% m/m on falling shipments - more
Bidder for New Caledonia's Vale nickel plant pulls out - The South
Korean company Korea Zinc has pulled out of plans to bid for the
Brazilian-owned Vale nickel plant in New Caledonia. - more
Corporate buyout threatens civil war in New Caledonia - more
Courtesy AISI - In the week ending on December 5, 2020, domestic raw
steel production was 1,579,000 net tons while the capability
utilization rate was 71.4 percent. Production was 1,818,000 net tons in
the week ending December 5, 2019 while the capability utilization then
was 78.6 percent. The current week production represents a 13.1 percent
decrease from the same period in the previous year. Production for the
week ending December 5, 2020 is up 1.2 percent from the previous week
ending November 28, 2020 when production was 1,561,000 net tons and the
rate of capability utilization was 70.6 percent. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Monday, December 7
Daily Nickel/Stainless Steel Briefing
Nickel closed Friday's trading
session at $7.44/lb ($16,400/tonne). Indicators at 6:05 am CST today show
nickel trading around $.04/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Friday and started the week just over the 243,400 tonne level. After
closing below the $16,000/tonne level on Thursday, for the first time
in eight sessions, nickel bounced higher on Friday, thanks in part to
an ever strengthening Euro. After nickel ended higher on Friday, SMM
markets this morning, played catch-up. At present, the Euro is off last
weeks highs, and nickel has drifted a little lower was well. The big
news Friday was the announcement that Allegheny Technologies is getting
out of the stainless steel business and concentrating on the higher
dollar part of their business. Today, is the anniversary of the sneak
attack on Pearl Harbor; an attack that pulled the U.S. into World War
Two. Until 9/11, of this century, it was the deadliest attack made by a
foreign country on U.S. soil. Two events, both deadly, but successful
only in getting America's full attention - an undivided attention they
learned to regret. That said, we tip our hat on this 'infamous'
anniversary, to the ever smaller 'greatest generation'. It's a new
week, and there are customers to be serviced - and thanked. Stay safe
out there and have a great week!
Average price of LME traded cash nickel
so far this month
- $7.25/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper slips from near 8-year high on falling Chinese imports - more
Friday's market review - Copper strides to highest peaks
since 2013 on U.S. stimulus plans - Copper prices pushed to the
strongest levels since March 2013 on Friday as U.S. politicians moved
closer to agree on long-awaited stimulus spending that would boost the
economy. - more
ATI Exits Standard Stainless Sheet Products, Redeploys Capital to
High-Return Opportunities - Allegheny Technologies Incorporated today announced that it is exiting standard stainless sheet
products,streamlining its production footprint, and investing in
enhanced capabilities to accelerate the execution of its high-value
strategy, primarily in aerospace and defense. - pdf press release here
U.S. imports of Stainless steel wire totaled $11.1 million in October,
a change of -27.81 percent from the same month one year ago. - more
U.S. exports of Stainless steel wire totaled
$11.37 million in October, a change of -5.63 percent from the same
month one year ago. - more
U.S. imports of Misc. stainless steel bars,
rods totaled $31.92 million in October, a change of -22.61 percent from
the same month one year ago. - more
U.S. exports of Misc. stainless steel bars,
rods totaled $21.81 million in October, a change of -26.21 percent from
the same month one year ago. - more
U.S. imports of Nickel totaled $96.12 million in October, a change of -29.93 percent from the same month one year ago. - more
U.S. exports of Nickel totaled $20.21 million in October, a change of 19.88 percent from the same month one year ago. - more
Vale postpones sale of operations in New Caledonia - Vale will postpone
the sale of its Goro nickel and cobalt operations in New Caledonia, at
the request of local authorities, the company said on Friday. - more
Glencore boss Glasenberg to step down, Gary Nagle named new CEO -
Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle,
head of coal assets at the mining and trading group, will become the
new CEO. - more
Mining Billionaire Leaves a Dirty Task to His Successor - more
MySteel Global – China’s steel export prices continue to surge -
Chinese steel producers hiked their prices of steel products for export
for the third week last week, even though steel prices at home had been
softening, particularly those of long steel, Mysteel Global noted. - more
Concerns over impact statement for fast-tracked Solomon Islands nickel
mine - A prominent conservation group has described the environmental
impact statement for a proposed nickel mine in Solomon Islands as
extremely poor, grossly insufficient and vague. - more
Nickel production program evaluated in Cuba - The production of nickel
and cobalt in the municipality of Moa, east of the country, and the
investment in this industry were analyzed by Commander of the
Revolution Ramiro Valdés, Deputy prime minister of Cuba, transcended
today. - more
Fastenal's Daily Sales Accelerate Further as Fasteners Near Breakeven -
Growth had steadily slowed from June through September, but has picked
back up as fastener sales continue to climb back. - more
Container shortages impact fastener supply chain - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
White House Coronavirus Task Force public reports for all 50 states - more
Friday, December 4
Daily Nickel/Stainless Steel Briefing
Nickel closed Thursday's trading
session at $7.23/lb ($15,945/tonne). Indicators at 7:00 am CST today show
nickel trading around $.06/lb
higher. Stockpiles of nickel stored in LME licensed warehouses rose on
Thursday and started today just under the 242,600 tonne level. Nickel
closed below the $16,000 tonne level last night for the first time this
week, and is trading about that level again this morning. The Euro
continues to trade higher against the U.S. Dollar, which is handcuffing
any attempt by the bears to drive nickel lower. But the lack of any
real serious changes in the supply - demand fundamentals is keeping the
bulls at bay. Indonesia has announced it is extending their ban on the
exporting of nickel ore until June 2023, and we posted an article below
that explains why. Indonesia is pulling out all the stops to become a
major player in the EV industry, and their supply of nickel helps
logistically when it comes to battery production. Industry news was
back to slim pickins today. In covid news, the New York Times vaccine
tracker states that there are currently 58 vaccines in clinical trials
on humans and 87 more in preclinical investigations on animals. Those
that are taken orally are interesting, especially for those of us who
dislike needles. That's it for another week, and we try to end it on
some good news. The first week of December is nearly in the bag, so
stay safe out there and have a relaxing and safe weekend.
Average price of LME traded cash nickel
so far this month
- $7.24/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper rises, set for fifth straight weekly rise on U.S. stimulus hopes - more
Thursday's market review - Copper clings to gains as
caution starts to take hold - Copper hovered near 7-1/2 year highs on
Thursday, supported by upbeat economic readings for top consumer China
and vaccine developments, but analysts said the rally may have run its
course for now. - more
Aperam hikes European stainless steel alloy surcharges for Dec -
Aperam, a stainless steel manufacturer bases in Luxembourg, hiked its
alloy surcharge for European austenitic stainless steel for December. -
more
Indonesia regulator eases lending rules for electric vehicles -
Indonesia is keen to create a full nickel supply chain industry,
starting from mining the ore, extract nickel chemicals used in EV
batteries, down to building EVs at home. - more
Indonesia to woo Tesla investment in push to become battery superpower - more
Kindred Spirits in stainless steel - Almost 200 years ago, two
tragedies on opposite sides of the Atlantic Ocean gave way to an
unforgettable act of kindness. - pdf here
Fed Report: Virus Surge Slowing US Economy - The report said that among
the sectors doing better were manufacturing, housing construction and
existing home sales. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
Thursday, December 3
Daily Nickel/Stainless Steel Briefing
Nickel closed Wednesday's trading
session at $7.26/lb ($16,010/tonne). Indicators at 6:10 am CST today show
nickel trading around $.01/lb
lower. Stockpiles of nickel stored in LME licensed warehouses fell
slightly on Wednesday and this morning, remain just above the 241,800
tonne level. Seeing
some separation yesterday and today, with the Euro trading higher than
it has in the last 2-1/2 years, while last night, nickel closed just
about as close to the $16,000 tonne level as it
could. For much of Wednesday afternoon, the trading price was under
that level, as it is again this morning, albeit barely. For traders,
nickel is potentially entering a stage where there is risk for a sudden
and sharp movement - one way or the other. The $16,000/tonne level has
become far more than a psychological point, and even more than a
technical point. As the bears and bulls play tug-of-war for control,
the flag sits over this level. As tension increases, there is always a
chance we could see one side or the other stumble, and the market
suddenly spike - or drop. This could be followed by a rush that lasts
for awhile, or an immediate opposite reaction that gives the immediate
benefit to the party that stumbled. Momentum is stagnant, but tension
is tightening - so the next few weeks could prove interesting. Or not.
If we knew what was going to happen with any degree of certainty, we
would be a retired rich investor - and since we never did, none of
those three words are applicable.
Lot of industry news today, from both the stainless steel and nickel
sectors. Yesterday we reported that Tuesday's covid daily death toll
was second
only to April's worst day. That lasted one day, as yesterday, the U.S.
saw its highest number of deaths from covid since the pandemic began
with 2,831
losing their battle with the virus. So while we can not let it beat us,
we can make the adjustments to our lifestyle to combat the hidden
killer. Stay safe out there and have a great Thursday!
Average price of LME traded cash nickel
so far this month
- $7.25/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - ShFE aluminium slips from 9-year high on profit-taking - more
Wednesday's market review - Copper down as firm dollar
prompts profit taking - Copper prices eased on Wednesday as the higher
dollar triggered profit taking on long positions, but losses were
limited by expectations of strong demand in top consumer China and
hopes for coronavirus vaccines. - more
China’s stainless steel demand expected to increase in Dec - According
to the downstream market of stainless steel in China, the sales of
household appliances showed a slight decrease this October, with a
range of 9,800 tons, but still faced an almost 10% year on year
increase in sales. - more
Ulbrich adds rolling mill to Connecticut plant - Ulbrich Stainless
Steels & Special Metals Inc. has announced the addition of a
20-high rolling mill at its Wallingford, Conn., location. - more
Vale's disappointing iron ore output adds fuel to scorching price rise:
Russell - The hottest major commodity of 2020 is getting even hotter,
with iron ore boosted by news that one of the world’s biggest producers
will not meet its output targets this year. - more
Vaccine news boosts European stainless steel market - As we head into
the final few weeks of 2020 the European stainless steel market is
turning its attention to what the new year will bring. - more
Vale 'hopeful' on positive outcome for VNC nickel plant as sale
deadline looms - Brazilian miner Vale is "hopeful" that a positive
decision will be made within the next two days on the future of its
Vale Nouvelle Caledonie (VNC) nickel and cobalt operation in New
Caledonia, the company's base metals executive director, Mark Travers
said, Dec. 2. - more
Nornickel to sell less palladium, nickel than it produces in 2020 -
head of sales - Russia's Norilsk Nickel will sell slightly less nickel
and palladium than it produces in 2020 as the Covid-19 pandemic reduced
industrial demand, the world's leading producer of the two metals told
Reuters. - more
Brazil's Vale output goals lag forecasts, sets emission targets -
Brazilian miner Vale on Wednesday unveiled iron ore production targets
that lagged previous forecasts while underlining its efforts to pay
reparations related to a dam disaster and lower carbon emissions in the
coming years. - more
Battery costs fall, make electric vehicles cheaper - BMI - The cost of
battery cells used for electric vehicles has fallen to an average of
$110 per kilowatt hour (kWh), making such cars competitive with those
using internal combustion engines (ICE), according to Benchmark Mineral
Intelligence (BMI). - more
Distributor Pandemic Index Holds Steady Despite Component Variation -
The index showed a modest year-over-year gain for the holiday-shortened
selling week of Thanksgiving. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
Wednesday, December 2
Daily Nickel/Stainless Steel Briefing
Nickel closed Tuesday's trading
session at $7.38/lb ($16,280/tonne). Indicators at 6:20 am CST today show
nickel trading around $.03/lb
lower. Stockpiles of nickel stored in LME licensed warehouses rose on
Tuesday and started today just over the 241,800 tonne level. Nickel
does not appear to want to venture to far from the $16,000 tonne level
.... or the Euro won't let it. Euro experienced a big leap against the
US Dollar yesterday afternoon, and nickel played follow the leader.
This morning the Euro is trading off yesterday's highs, but only
slightly, and yet nickel has retreated back to where it ended November,
ie Monday. So much like November, the $16,000 tonne level continues to
play a dual role, as technical resistance much of last month, and as it
currently is, technical support. Copper appears to be drawing investors
attention at the moment. We have tried to be good the last few weeks,
leaving the pandemic news mostly to others. But it is worth touching on
a few points. First, the worst day that the US has experienced in
deaths attributed to covid was back on April 21st, when the medical
field was still trying desperately hard to figure out a treatment, and
2,744 Americans lost their lives. Yesterday, with the medical field in
a much better position to do battle, 2,614 Americans lost their lives.
It appears that there is little doubt we will see 300,000 lives lost by
Christmas, the 275,000 level shattered yesterday. One can feel
completely helpless in a situation like this, and become exasperated
with the constant reminder of the situation. But there are things we
can do to get this under control. And if you think only totalitarian or
communist governments can get this pandemic under control by taking
brutal measures against the very people they are trying to save, we
suggest you take a look at Australia. They have had two major
outbreaks, took them very seriously, and today, while much of the world
is hit with a second and in many cases, far worst wave than the first,
Australians watch their statistical line stay flat and hug the bottom.
So stay safe out there today, and have a great hump day!
Average price of LME traded cash nickel
so far this month
- $7.30/lb
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Copper down as firm dollar prompts profit taking - more
Tuesday's market review - Strong factory data pushes
copper to new 7-year high - Copper prices hit their highest since 2013
on Tuesday as data showed manufacturing expanding rapidly in Europe,
the United States and Asia in November, and coronavirus vaccines turned
investors increasingly bullish about the economic outlook. - more
Russia's Nornickel says it will spend $600 million collecting
Soviet-era Arctic waste - Russian mining giant Norilsk Nickel, hit by a
fuel spill at an Arctic power station in May, will spend $600 million
by 2030 collecting Soviet-era waste around its Arctic sites, it said on
Tuesday. - more
Norilsk Nickel's program to reduce air pollution costs $ 3.6 billion - more
Global Plug-In Electric Car Sales October 2020: Near Record Level -
Already more than 2.1 million plug-in electric cars were sold globally
during the first ten months of 2020. - more
Optimizing Warehouse Storage to Boost Productivity - Storage is
considered one of the most pivotal components of warehouse operations.
But the handling and assignment of stock-keeping units (SKUs) and the
movement of inventory between areas can present challenges for
warehouse managers. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
Tuesday, December 1
Daily Nickel/Stainless Steel Briefing
Nickel closed Monday's trading
session at $7.27/lb ($16,020). Indicators at 6:15 am CST today show
nickel trading around $.02/lb
higher. Stockpiles of nickel stored in LME licensed warehouse fell on
Monday and ended the month of November just shy of the 241,500 tonne
level. For the month, LME nickel stockpiles grew by 2,466 tonnes and
for the year to date numbers - plus 88,164 tonnes. Nickel is up
slightly from its close yesterday, but for all practical purposes, it
is quiet and doing little more than shadowing the Euro in currency
trading. Nickel ended the month nearly $900 tonne higher than it
started, with most of that bounce coming in the first week. SMM is
reporting China's exports of stainless steel
rose in October by 7.96% MOM, but decreased 9.61% YOY to 284,400 mt.
Imports into China were reported at 207,000 mt of stainless steel in
October, up 16.9% from September and up 136.3% the same month last
year. MEPS is reporting rumors of a potential supply shortage of
stainless steel in an article below. This is not something we have
heard of and question the accuracy of the report as stainless steel
scrap prices are doing a whole lot of nothing. If any of our readers
are aware of shortages across any sectors of the stainless steel
market, we would appreciate hearing from you. We realize there may be
certain items that are periodically hard to find, but are interested if
there are shortages 'across the board' and any reasons you can offer
for the same. We want to take a moment and thank our November sponsor
Texas
Pipe, who sponsored three months in 2021. And for December, we welcome
back and thank
Taunton Metals, who sponsored four months of this year. Both are long
time readers and their support for the site helps keep it free for all
visitors and regulars. We encourage you to visit the sites of all of
our sponsors and see if they offer services that you might find useful.
It's Tuesday, and the first day of the last month of 2020. Some of you
may have found those goals you set for yourself last December, went to
h--l in a hand basket after February. Unless you were selling PPE that
is. While 2021 starts with many questions, it does appear markets are
betting it will be a boom year as the world recovers from the pandemic.
How will you benefit during this anticipated recovery? How will your
approach to business be forever changed because of the pandemic. It's
time to start looking thru the windshield toward the new year, and
putting 2020 in the rear view mirror. Stay safe out there today, and
have a great day. And welcome to December 2020.
Average price of LME traded cash nickel
so far this month
- $7.17/lb average November
LME nickel chart - here
/ Euro/US Dollar chart - here
Reports
Reuters metals morning - Vaccine hopes, China data push Shanghai copper to highest in more than 8 yrs - more
Monday's market review - Copper sweeps to highest since
March 2013, investors eye pause - Copper prices spiked to the highest
in more than seven years on Monday as many wary investors bet that a
sizzling rally needed a pause in coming days as the year-end
approached. - more
The World Trade Organization backed Japan in several claims in a ruling
on Monday against South Korea's 16-year-old anti-dumping duties on
Japanese stainless steel bars. - more
Fears of supply shortage grow in US stainless market - The short-term
outlook for the US stainless steel sector is cautiously optimistic.
Many market participants reported a flurry of activity ahead of the
Thanksgiving holidays. - more
Export taxes becoming more prevalent globally - South Africa has joined
the bandwagon in imposing export taxes to either collect more revenue
or alter the flow of goods across borders. - more
Taiwan’s Tang Eng raises 304 stainless steel export prices for Dec -
Tang Eng Iron Works Co., Ltd., one of the main stainless steel
manufacturers in Taiwan, announced to raise its new stainless steel
export prices for December on November 30th, following the announcement
from Yieh United Steel Corp. (Yusco), another Taiwan’s major stainless
steel producer. - more
Courtesy AISI - In the week ending on November 28, 2020, domestic raw
steel production was 1,561,000 net tons while the capability
utilization rate was 70.6 percent. Production was 1,823,000 net tons in
the week ending November 28, 2019 while the capability utilization then
was 78.8 percent. The current week production represents a 14.4 percent
decrease from the same period in the previous year. Production for the
week ending November 28, 2020 is down 1.3 percent from the previous
week ending November 21, 2020 when production was 1,582,000 net tons
and the rate of capability utilization was 71.5 percent. - more
Coronavirus By The Numbers - here
Coronavirus by John Hopkins - here
CDC Cases in the US - here
Coronavirus Recovery Tracker - more
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more
(all
ton listings are metric tons = 2204.622 pounds ) Updated Monday thru
Thursday before 7 am CST, Friday version before 8 am CST - DisclaimerOriginal content and opinions copyright
www.estainlesssteel.com. All prices shown on
this page are indications only. Please note - for real time and
official LME
prices, LME requires a user subscribe to an authorized LME vendor.
Markets are closed Friday for the New Years holiday so our next update
will be Monday, January 4th. May 2021 be a year of health and happiness
for you, and for all of us. As the fictional character, Colonel
Sherman T Potter, in a M*A*S*H New Years TV episode toasted "Here's to
the New Year. May she be a damn sight better than the old one, and may
we all be home before she's over." 
Daily Nickel/Stainless Steel Briefing 
($16,780/tonne). Indicators at 6:15 am CST today show
nickel trading around $.06/lb 
Reports
Why Stainless Steel 
Wednesday's market review - Copper drifts lower in thin
trading as coronavirus cases rise - Copper prices slipped on Wednesday
in depleted volumes as the end of the year approaches, pressured by
surging coronavirus infections driven by a new variant of the virus. - 
Taiwan’s Yusco raises stainless steel prices for Jan 2021 - Yieh United
Steel Corp. (Yusco), a leading stainless steel mill in Taiwan,
announced its new prices for January 2021 today (December 30). - 
Explainer: What's driving New Caledonian protests against Brazilian
mining giant Vale - Riots erupted in December in New Caledonia, a
French territory in the Pacific, with protesters blockading nickel
mines and challenging Brazilian mining giant Vale’s latest attempt to
sell its local business. - 
Brazil, Australia iron ore shipments set 2020 record; China spearheads
other commodities performances; Soybean the best performer - The total
volume of iron ore dispatched to global destinations from Australia and
Brazil was 29.7 million tonnes in December, the highest since June
2019, according to a survey from Mysteel. - 
Other News
India likely to impose anti-dumping duty on certain kind of steel
imports from few countries - The government of India is likely to
impose anti-dumping duty for five years on certain type of steel
products from few countries, including Japan and Korea, to guard
domestic players from cheap imports on recommendation from the Commerce
Ministry. - 
Indonesia says $9.8 billion EV battery MOU agreed with LG Energy
Solution - Indonesia and a unit of South Korean firm LG Group have
signed a memorandum of understanding (MOU) on a $9.8 billion electric
vehicle (EV) battery investment deal, the head of Indonesia’s
Investment Coordinating Board said on Wednesday. - 
Courtesy AISI - In the week ending on December 26, 2020, domestic raw
steel production was 1,600,000 net tons while the capability
utilization rate was 72.3 percent. Production was 1,815,000 net tons in
the week ending December 26, 2019 while the capability utilization then
was 78.5 percent. The current week production represents a 11.8 percent
decrease from the same period in the previous year. - 
Fitch Solutions Forecasts 8.3% Surge in Nickel Mine Output - Australia,
with a solid project pipeline, will continue to remain as a
best-performing major producer. - 
MySteel Global – Demand-side reform to drive China’s steel in 2021 -
2021, the first year of the 14th Five-Year Plan period (2021-2025),
will mark the start of demand-side reform in China’s economy and global
market, and China’s steel industry will also be driven by demand, with
its growth outpacing that in supply to reach its peak in the next five
years, Wang Jianhua, Mysteel’s chief analyst, shared at the Mysteel
Annual Summit in Shanghai on December 20. - 
Rosstat: Russian stainless steel production increases in Nov y-o-y -
According to statistics from the Russian Federal State Statistics
Service (Rosstat), Russian stainless steel production totaled around
16,200 tons in November, increasing by 22.1% from the same month a year
ago and also up by 5.8% compared to the previous month. - 
Revisiting iron ore pricing mechanism holds risks and opportunities for
market - An almost doubling of iron ore prices over the past six months
led Chinese steelmakers last week to call for a change in the current
pricing mechanism. - 
November 2020 crude steel production - World crude steel production for
the 64 countries reporting to the World Steel Association (worldsteel)
was 158.3 million tonnes (Mt) in November 2020, a 6.6% increase
compared to November 2019. - 
Apple eyes autonomous electric car to rival Tesla with “breakthrough”
battery - (excerpt) This is not only cheaper to make than the typical
nickel-manganese-aluminium (NCA) chemistry of today’s lithium-ion
batteries, but is also less likely to overheat. - 
The rise and rise of iron ore - Iron
ore prices are soaring. Values reached approximately US$160 per tonne
by the middle of December. This level was last recorded in early 2013.
- 
unchanged.
Stockpiles of nickel stored in LME licensed warehouses rose
on Friday and started this week just shy of the 245,200 tonne level.
Nickel spiked higher earlier today, but a sharply lower Euro may be
putting too much negative pressure on traders, and at present, nickel
is down $5 per tonne. It appears, thru trading this morning and over
the past few weeks, that the $8.05/lb level has been putting up
strong
resistance.The Euro is lower, as are U.S. futures, on concerns over the
new strain
of covid that has forced London to shut down, and fellow European
countries to ban traffic to and from that country. This new strain is
not being reported as being anymore dangerous than the others, but it
is apparently 60% more contagious. Fitch Solutions, in a new quarterly
report, is
forecasting nickel will average $15,250/tonne in 2021. This is an
increase of $250/tonne from a prior forecast. It's Christmas week and
typically, this and next week, are a Vice President of Workplace
Productivity's worst nightmare. Both are short week's, with U.S.
markets closed both Friday's, and London being closed these two days
and next Monday as well, for Boxing Day. This may be a different
holiday season than any of us have experienced before, but news flash,
Christmas has not been cancelled. And contrary to recent conspiracy
theories, Santa has not been quarantined, and his visa's have not been
cancelled. However, it is more important this year, than in past years,
that the kids are asleep and kept socially distant from the white
bearded trespasser. And it probably wouldn't hurt, to leave out a
little hand sanitizer with your cookies and milk. Christmas is for the
kids .... and the kid in each of us ..... so this week, its very
important that we take care of the kids .... big and small. Be safe
out there, enjoy your short week, and Merry Christmas you big old kid. 
South Korean enterprises request to cancel AD investigation on
stainless steel from Taiwan, China, Indonesia - The Korean Trade
Commission (KTC) initiated an anti-dumping investigation on stainless
steel coils from Taiwan, China, and Indonesia at the request of POSCO
on September 17. - 
European steel market in panic mode - European steelmakers continue to
raise their prices for new transactions on almost a daily basis. - 
Vale's Coleman Mine marks 50 years in operation - Vale marked the 50th
year in operation of its Sudbury-area Coleman Mine on Dec. 10. - 
How to Upskill Face-to-Face Salespeople for Virtual Selling -
Industrial sales heavily relies on in-person relationships. So, what
are the top skills virtual sales teams must improve? - 
Glencore boss Glasenberg to step down, Gary Nagle named new CEO -
Glencore boss Ivan Glasenberg is to step down next year and Gary Nagle,
head of coal assets at the mining and trading group, will become the
new CEO. -
Concerns over impact statement for fast-tracked Solomon Islands nickel
mine - A prominent conservation group has described the environmental
impact statement for a proposed nickel mine in Solomon Islands as
extremely poor, grossly insufficient and vague. - 
Nickel production program evaluated in Cuba - The production of nickel
and cobalt in the municipality of Moa, east of the country, and the
investment in this industry were analyzed by Commander of the
Revolution Ramiro Valdés, Deputy prime minister of Cuba, transcended
today. - 
Fastenal's Daily Sales Accelerate Further as Fasteners Near Breakeven -
Growth had steadily slowed from June through September, but has picked
back up as fastener sales continue to climb back. - 
Aperam hikes European stainless steel alloy surcharges for Dec -
Aperam, a stainless steel manufacturer bases in Luxembourg, hiked its
alloy surcharge for European austenitic stainless steel for December. -
Vale 'hopeful' on positive outcome for VNC nickel plant as sale
deadline looms - Brazilian miner Vale is "hopeful" that a positive
decision will be made within the next two days on the future of its
Vale Nouvelle Caledonie (VNC) nickel and cobalt operation in New
Caledonia, the company's base metals executive director, Mark Travers
said, Dec. 2. - 
The World Trade Organization backed Japan in several claims in a ruling
on Monday against South Korea's 16-year-old anti-dumping duties on
Japanese stainless steel bars. - 
Export taxes becoming more prevalent globally - South Africa has joined
the bandwagon in imposing export taxes to either collect more revenue
or alter the flow of goods across borders. - 
