This page is archived news covering the period of December 2021
If you are looking for current daily market news, please visit here.


Stainless Steel News and Nickel Prices



Please visit our December sponsor - P A Inc helps keep this daily news site free to visitors



Elg Metals Worldwide







Friday, December 31

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $9.34/lb ($20,585/tonne). Indicators at 5:45 am CST today show nickel trading around $.13/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started the last session of 2021 just under the 101,900 tonne level. On this day last year, the LME showed 246,708 tonnes of nickel. Nickel traders show they have ever intention of entering the new year on a bullish run and nickel is now trading over $1000/tonne higher than it was just over a week ago. Unless the market tanks later today, the average price of LME cash nickel for the month, will end at its highest this year. More on the Chinese steel factory closures until after the Olympics below. Apparently the confusion is over the use of the term 'massive' closures. Aperam, headquartered in Luxembourg, announced Monday, it had completed the acquisition of ELG, who was our first ever annual sponsor, sponsoring a side banner for all of 2021. We thank them, as we do all our sponsors, for their support and wish them well in their new partnership. London markets are closed on Monday, and resume trading on Tuesday. Our hope for all of our readers is the very best in the new year, and may 2022 bring you and your family, peace and prosperity, way too many reasons to smile and laugh, and above all in these trying times, the health necessary so you can thrive, not just survive. Enjoy your holiday and we hope to see you on Tuesday, January 4th, for our first update of 2022.
  • Average price of LME traded cash nickel so far this month - $9.08/lb

  Reports

  • Reuters metals morning - Base metals shine in 2021 on robust China demand, supply concerns - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4299
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • SHFE China SS Index (yuan) - 17,125

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Thursday's market review - Aluminium climbs after smelters curtail output due to power prices - Aluminium prices advanced on Thursday after two smelters cut production due to high power prices, fuelling concerns about potential shortages. - more

  • Iron ore futures end 2021 with 12% drop amid China climate efforts - more
      Blast Furnace Resumption Is Postponed For Environmental Protection - According to SMM statistics, 22 steel companies with 43 blast furnaces planned to resume their production from December 20, 2021 to January 10, 22. However, due to environmental protection, the upcoming Winter Olympics and other reasons, the resumption of production has been postponed. - more

     Aperam Completes Acquisition Of ELG - Aperam, announced Monday the completion of the acquisition of ELG, a  global leader in stainless steel and superalloys recycling. - more

     DOF backs lifting of open-pit mining ban - The Department of Finance said Thursday it supports the lifting of the ban on open-mining as this would enable the industry to become a key contributor to economic recovery. - more

   2021 Review: Battery Metals Have Enchanted the Market - There’s simply no other way to put it. Battery metals are red hot now as the world continues to charge headlong towards electrification and zero carbon emissions. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Euro energy update - weather warms, France warns of outages, German permitting delays - more
  • China’s smallest firms failing at historic pace as 4.37 million close up shop and registrations plummet - more
  • Cathay Pacific suspends all long-haul cargo flights after Hong Kong ramps up quarantine for its aircrew from 3 to 7 days - more
  • China Nov steel-related manufacturing production index rises 17 points on month - more
  • Colorado wildfires burn hundreds of homes, force evacuations - more
  • Stocks, Futures Waver as Year Draws to a Close: Markets Wrap - more

  Economic Stats and Prices

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

Thursday, December 30

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $9.28/lb ($20,460/tonne). Indicators at 5:45 am CST today show nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just over the 103,000/tonne level. Nickel had a positive trading day Wednesday, closing at its highest this month. Market is quiet this morning, with Shanghai markets playing catch up overnight. We are introducing a slightly different layout for 2022, which adds more links that some of you may find useful. Those we have determined are most relevant are at the top, while others are below the news section. Please review the new links and if you have one that others in the industry might find useful, please let us know. We will post an update tomorrow, but with the London Metal Exchange closed on Monday, we will not be updating next week until Tuesday. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $9.07/lb

  Reports

  • Reuters metals morning - Copper slips in range-bound trade, aluminium shines on supply worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4336
  • 304 SS Scrap Prices Local (updated bi-weekly) - more
  • Steel Home China SS Index (yuan) - 17,205
  • Global Economic Indicators: Global Manufacturing PMIs - pdf here

   Shanghai Metals Market

  • SHFE Stainless Steel  Futures (yuan) - more
  • SHFE Nickel Futures (yuan) - more
  • SHFE Inventory (updated each Friday) - more
  • Shanghai Jinchuan nickel price -  here

  London Metals Market

  • Yesterday's LME official prices here
  • LME nickel chart - here 

    Wednesday's market review - Copper touches one-month high on year-end trading and arbitrage - Copper prices climbed to their highest in a month on Wednesday, boosted by year-end trading, friendly sentiment for risky assets and arbitrage buying. - more

      Asian steel output remains firm outside of China - Asian crude steel output fell further in November on the continued cut back in output in China, according to World Steel Association data. - more
  • The output of 300-series Stainless Steel to Rise by over 6% in 2022 on the Continuous Commissioning of New Capacity - more
      Increasing Production, Enhancing Raw Material Security Focus Areas For Steel Sector In 2022 - Increasing per capita steel consumption and production of special steel as well as enhancing raw material security will remain the key focus areas of the Indian Government. - more

     Taiwan’s stainless steel screw industry facing surging costs - LME nickel price has remained high over the US$20,000/ton level so far yesterday (December 28), which led to high costs of nickel-containing stainless steel screws. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China’s stable economy clouded by property and export outlook - more
  • Why China reacted so strongly to its Tiangong space station’s near-misses with Elon Musk’s satellites - more
  • Stocks, Futures Steady; Dollar and Treasuries Rise: Markets Wrap - more

  Economic Stats and Prices

  • U.S. Steel Import Monitor - here
  • SIMA Melt & Pour Dashboard - here
  • US Economy At a Glance - more
  • US Economic Indicators - more
  • US Economic Activity - (every Monday) - pdf here
  • US Fed NY Weekly Economic Index - more
  • FX Street Economic Calendar - more
  • Iron Ore Price Graph - 1  2  3 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • COVID By The Numbers - here
  • How is your state faring? - more
  • What time is it in....? - more
  • Euro/US Dollar chart - here
Why Stainless Steel
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here

Wednesday, December 29

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $9.09/lb ($20.045/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 Friday and started today's session just under the 103,700 tonne level. The London Metal Exchange has reopened after being closed Monday and Tuesday for Christmas. Morning started with some traders taking profits, but the bulls have taken over since and nickel is on the rise. Shanghai nickel closed slightly lower and back to where it closed Monday night. News is on the quiet side as business' start wrapping things up for the year. If you have something you still wanted to accomplish in 2021, you have less than three days to 'get er done'. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $9.06/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper touches one-month high on year-end trading, arbitrage - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4347
  • SHFE Stainless Steel  Futures (yuan) - 16,890
  • U.S. Imports for Consumption of Steel Products Nov 2021 - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's Shanghai market review - Shanghai Nonferrous Metals Mostly Closed with Gains, the Market Stood Quiet - Shanghai nonferrous metals mostly closed in the positive territory. The market, however, was quiet as a whole approaching the year-end, with sluggish market transactions. - more

      SunSirs: Stainless Steel Prices Rose Slightly on the 27th - According to the price monitoring of SunSirs, on the 27th, the price of stainless steel rose slightly, and the spot price was reported at 15,956.67 RMB/ton, an increase of 0.84% from the previous trading day, an increase of 20.13% from the beginning of the year, and a year-on-year increase of 21.42%. - more

  • Cold-rolled stainless steel prices rise in Asia - more
      CNGR to buy nickel, cobalt from Xiamen Xiangyu - Chinese battery materials producer CNGR on Tuesday said it would buy nickel and cobalt from compatriot Xiamen Xiangyu over a five-year period as part of a broad strategic cooperation agreement between the two companies. - more

      US, EU target Oct 2023 to wrap up global steel, aluminum negotiations: Biden - The US and EU will seek to conclude negotiations by Oct. 31, 2023, on global steel and aluminum arrangements to restore market-oriented conditions and support the reduction of carbon intensity across modes of steel and aluminum production, according to a proclamation issued by President Joe Biden. - more

      Courtesy AISI - In the week ending on December 25, 2021, domestic raw steel production was 1,802,000 net tons while the capability utilization rate was 81.6 percent. Production was 1,612,000 net tons in the week ending December 25, 2020 while the capability utilization then was 72.9 percent. The current week production represents an 11.8 percent increase from the same period in the previous year.  - more

  • Steel Imports Up 44.6% Year-To-Date Through November - more

      How to Support Customers When Supply Chains Are Unpredictable - Consumers are impatient that supply chains are still unreliable, even as economies are reopening. Tempers and patience are short; people just want their goods, and they want them yesterday, but logistics teams can’t make any promises. - more

    Production Pace Is Insanely Fast For Model 3, Model Y At Giga Shanghai - The Tesla Giga Shanghai plant in China currently is the biggest electric car plant in the world, considering the production volume. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • CDC Data Shows Nearly Two-Thirds of Cruise Ships Reporting COVID Cases  - more
  • Omicron infection appears to protect against Covid delta variant and could displace it, South Africa study finds - more
  • Omicron: Less severe, but still dangerous - more
  • Stocks and U.S. Futures Rise; Treasuries Steady: Markets Wrap - more

  Morning Stats and Prices

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

Tuesday, December 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $9.09/lb ($20,030/tonne) and Friday's session at $9.09/lb ($20,045/tonne). Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and Friday and ended last week just over the 103,800 tonne level. Cancelled warrants have spent the month in the 47-48% range. LME markets remain closed today and will return to active trading tomorrow. Shanghai nickel has done a whole lot of nothing in their last four trading sessions, and could be waiting for the LME to reopen for directional guidance. In a Reuters article on iron ore, linked below, the author stated "China's environment regulator helped boost sentiment with its spokesperson saying on Thursday that rumours about massive shutdown of industrial firms in northern area during the Winter Olympics were not true." We hadn't heard of 'massive' shutdowns, but had read about forced closures in select cities hosting the Olympics. There will still be the week long New Year's holiday shut down to contend with, but obviously with iron ore being restocked heavily, Chinese steel producers are entering 2022 optimistically. Stainless steel prices are on the rise again, thanks primarily to the increase in nickel prices. Omicron is still worrying markets, probably less so for any potential personal danger involved and more on fears of governmental over reaction and economic repercussions. Last week of 2021. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $9.06/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper hits one-month high on easing Omicron fears - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4347
  • SHFE Stainless Steel  Futures (yuan) - 16,905
  • MINE Magazine January 2022 - online here
  • China Steel Production - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Prior day's market review - Copper closes lower in thin holiday trade as physical demand weakens - Copper prices edged lower on Friday, sapped by thin holiday trade and concerns about weaker physical demand. - more

  • Thursday's market review - Power price surge pushes aluminium to 2-month high - more
     SunSirs: Stainless Steel Prices Rose Slightly on the 22nd - According to the price monitoring of SunSirs, the price of stainless steel rose slightly on the 22nd. - more
  • Spots and Futures of Stainless Steel Both Rose, Output Declined due to Annual Maintenance - more
  • Dalian iron ore futures gain for 5th week on restocking demand - more
     Japan’s NSSC hikes nickel-based & chrome-based stainless steel wire rod prices - Nippon Steel Stainless Steel Corp (NSSC), the largest stainless steel producer in Japan, announced its price adjustment of stainless steel wire rods signed from December 2021 to February 2022 with a delivery from January to March 2022. - more

     China's stainless steel exports, reflecting weak domestic market demand - According to statistics from the General Administration of Customs of China, China’s stainless steel exports totaled around 394,000 tons in November, hiking by 23.9% from the previous month and also increasing by 13.3% from the same month a year ago. - more

     Nickel Prices Were Boosted by Overseas Energy Crisis - The energy shortage in Europe fermented again last week. The natural gas prices soared in many European countries, and the European aluminium smelters gradually reduced the production.  - more

     BHP: Demand for Primary Nickel to Increase 1.3 Million mt in a Decade -  Recently, Bao Wenjun, head of market analysis for metals and mining at BHP, stated at the press conference of the 2021 Energy-saving and New Energy Vehicle Development Report that at present, the vast majority of nickel in the market is actually used in non-battery industries, and only 5% of nickel was used in the battery industry in 2020. - more

     Indonesia president launches $2.7 bln China-backed ferronickel plant - Indonesian President Joko Widodo on Monday inaugurated a new ferronickel plant with 1.8 million tonne output capacity in southeast Sulawesi province built for an estimated $2.7 billion. - more

      China warns its mining companies to get permits before ‘blindly’ visiting Afghanistan for minerals - China’s embassy in Afghanistan warned its companies and citizens not to “blindly” visit the country to inspect mineral resources, after reports of foreigners being detained without exploration permits. - more

      Philippines ends open pit mining ban to reinvigorate industry - The Philippines has lifted a four-year-old ban on open-pit mining for copper, gold, silver and complex ores, an official said on Tuesday, marking the second landmark policy move this year as the government tries to revitalise the industry. - more

     US: Over 10 New Battery Plants To Be Launched In 2022-2025 - There were only a handful of battery plants launched in the past decade (the Tesla Gigafactory 1 in Nevada was the largest one), but now there is a huge wave of new projects that spread through the automotive industry in the U.S. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • That Cream Cheese Shortage You Heard About? Cyberattacks Played a Part - more
  • Walmart blasted by Chinese consumers over missing Xinjiang items - more
  • China’s Zero COVID Strategy Braces for Omicron - more
  • Breitenfeld Case Study - pdf here
  • Stocks Rise With U.S. Futures; Crude Oil Climbs: Markets Wrap - more

  Morning Stats and Prices

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

Thursday, December 23

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed yesterday's trading session at $9.04/lb ($19,940/tonne). Indicators at 5:40 am CST today show nickel trading around $.03/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just under the 104,200 tonne level. Nickel is peeking its head over the $20,000/tonne level this morning, but ever so slightly. The World Steel Association reported  crude steel production was down 9.9% in November, when compared to last year. The primary reason for the drop is China production in the same month was down a whooping 22%. Shanghai stainless futures rose for a second consecutive session today, and indexes we follow there, show stainless prices in China appear to have bottomed out and are back on the rise. The bidding war winner for Noront hopes to have a nickel mine up and running in five years. Global molybdenum production was down slightly in the third quarter of 2021 YOY. And that is it for us this week. LME and Shanghai markets are open tomorrow, with LME markets closed next Monday and Tuesday. Our next update will be Tuesday. We want to wish all of our readers a very Merry Christmas and hope you are able to enjoy your holidays with your family. Stay safe out there and have a wonderful Christmas weekend!
  • Average price of LME traded cash nickel so far this month - $9.05/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai zinc, aluminium prices jump over 2% on supply concerns - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4398
  • SHFE Stainless Steel  Futures (yuan) - 16,625
  • Gross Domestic Product Third Quarter 2021 - more
  • Consumer Confidence - December - more
  • Scotiabank Omicron Variant Clouds Commodity Price Outlook - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Yesterday's market review - Zinc hits two-month peak on supply worries - Zinc prices touched a two-month high on Wednesday on persistent worries about supply while other industrial metals were boosted by easing concerns about renewed pandemic restrictions. - more

        November 2021 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 143.3 million tonnes (Mt) in November 2021, a 9.9% decrease compared to November 2020. - more

       China’s stainless steel market prices stabilize - China’s stainless steel market has recently recovered and the prices have stabilized after the steel mills’ joint production cuts and Tsingshan keeping its February prices flat, including 304 strips and Hongwang’s 304 cold-rolled coils. - more

        Global production and use of molybdenum fell in Q3 2021 - Figures released today by the International Molybdenum Association (IMOA) show that the global production of molybdenum fell by 1% to 141.7mlbs in Q3 2021 when compared to the previous quarter, a fall of 6% when compared to the same quarter of the previous year. - more

       Steel prices and material lead times trending downward - Lead times from the mills indicate steel prices could be dropping hard and fast - more

       Australia’s Wyloo Metals hopes to have Ring of Fire nickel mine, access road by 2026 - Wyloo Metals Pty Ltd., the winner of a fierce bidding war for Noront Resources Ltd., hopes to have a large nickel mine in operation in the Ring of Fire, and an access road built into the remote minerals district in northern Ontario, within five years. - more

      Electric Vehicle Battery Metal Prices Increasing Due to Shortages - Global sales of pure electric and plug-in hybrid passenger vehicles in 2021 are expected to more than double to a record 6.2 million units, which is almost 9 percent of the global passenger vehicle market—up from less than 3 percent two years ago. - more

       Amazon's logistics empire grows, matches up to FedEx and UPS - The e-commerce giant rapidly expanded its fulfillment network this year to keep up with a pandemic-induced spike in demand. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China will be able to keep economic growth stable - state planner - more
  • EU duties will disrupt fastener supply chain - more
  • Stocks, U.S. Futures Rise on Omicron Optimism: Markets Wrap - more

  Morning Stats and Prices

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

Wednesday, December 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.90/lb ($19,635/tonne). Indicators at 6:00 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just over the 104,300 tonne level. Nickel closed back above its 100 day moving average yesterday, and doing little so far this morning, remains above. Changing little would also define the 100 day moving average this month. Technicals lean to the buy signal, but activity is slowing due to the upcoming holiday. BHP has bowed out of the Australian bidding war for Canadian nickel miner Noront Resources. Couple of bullish forecasts for the steel industry below, while China stainless pricing appears to be stabilizing in some areas. Demand for stainless in Taiwan, U.S., and Europe remains strong, while China is soft, and will probably remain so thru the Olympics. Not getting a lot of media attention in the U.S. yet, but parts of the Philippines were devastated by Typhoon Rai last week. We are still trying to determine what, if any, damage was done to the nickel mines there but we hear some of their ports are badly damaged. This should be a bigger story than it is... at least here in the U.S. Stay safe out there, Merry Christmas, and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $9.04/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper hits near two-week high as tight supply lends support - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4408
  • SHFE Stainless Steel  Futures (yuan) - 16,250
  • KraneShares European Carbon Allowance Strategy ETF - more
  • Breakwave Bi-Weekly Shipping Report - pdf here
  • U.S. Current-Account Deficit Widens in Third Quarter 2021 - more
  • Manufacturing Outlook for December 2021 - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Prices rise as investors recover some risk appetite - Industrial metals rose on Tuesday alongside oil prices and stock markets as investors weighing the impact of the Omicron coronavirus variant on economic growth turned more bullish after two days of selling. - more

      Column: A year of walking on the wild side for industrial metals - Tin was the first to turn wild.The London Metal Exchange's (LME) tin contract rarely makes the headlines but in February it went into spectacular melt-up. - more

      SunSirs: Stainless Steel Prices Fell Slightly on the 20th - According to the price monitoring of SunSirs, on the 20th, the price of stainless steel fell slightly. - more

      Taiwan’s domestic demand remains strong, Yusco & Tang Eng benefited - According to the high nickel price in the world, the current nickel price stayed in a high class with around US$20,000/ton, benefited by the increasing stainless steel demand from the market. - more

      BHP won't match Wyloo's takeover offer for Canadian nickel miner Noront - BHP Group said on Tuesday it would not match a takeover offer by billionaire Andrew Forrest's Wyloo Metals for Noront Resources Ltd, essentially bowing out from a months-long tussle for the Canadian nickel miner. - more
  • Rio and BHP wrestle with green M&A conundrum - more

      Steel, scrap markets regionalize, led by China, as decarbonization gains pace - China has been the catalyst of steel market regionalization in recent years, in a trend taken up in other regions, notably the European Union, as the decarbonization drive gains pace. - more

      US Steel sees ‘steel super cycle’ continuing - Despite a seasonal slowdown in end-of-year order activity, US Steel is bullish going into 2022, believing that the current “steel industry super cycle will continue,” Kallanish reports. - more

  • MEPS - Global steel prices forecast to remain elevated in 2022 - more
  • Sweden could become a pioneer in green steel production - more
       Higher Costs, Less Waste: Six Ways Supply Chains Will Change in 2022 - Supply chain disruptions continue to wreak havoc on everything from holiday gift shopping to rising prices for essential goods. - more
  • Severe Weather Wrecks Southeast Asia as 200 Dead, Ports Shut - more
  • Port of Los Angeles Confirms Cargo Dip in November, Says Smaller Ship Are to Blame - more

       Nickel oxide is a material that can ‘learn’ like animals and could help further artificial intelligence research - A unique material, nickel oxide demonstrates the ability to learn things about its environment in a way that emulates the most basic learning abilities of animals, as my colleagues and I describe in a new paper. - more

       In Response: Let the process work; give Tamarack mine a fair shot - From the column: "I believe that most Minnesotans will wait to understand the final mine plan at Tamarack, consider the risks and benefits, and come to their own conclusion." - more

  • U.S. faces tough choices in 2022 on mines for EV metals - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Omicron Casts Looming Cloud over Economy's Pandemic Recovery - more
  • First Omicron Death in U.S. Was Reinfection - A Warning to Those Who've Already Had COVID - more
  • Stocks, U.S. Futures Steady Amid Thin Trading: Markets Wrap - more

  Morning Stats and Prices

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

Tuesday, December 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.78/lb ($19,350/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today's session just over the 104,500 tonne level. Nickel closed below the 100 day moving average of approximately $19,440/tonne for a second time this month, and only the fifth time since March. Nickel is on the climbing side of the roller coaster ride, although with less enthusiasm than Thursday's bounce. Taiwan's largest stainless steel producers see a positive year for stainless steel demand next year, while China ends the year with restricted demand. It's Tuesday and activity seems to be subdued due to the approaching holidays and end of the year. Stay safe out there, Merry Christmas, and have a wonderful shortest day of the year!
  • Average price of LME traded cash nickel so far this month - $9.05/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper buoyed by weaker dollar, low inventories - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4408
  • SHFE Stainless Steel  Futures (yuan) - 16,095

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Omicron variant casts shadow over industrial metals - Industrial metal prices eased on Monday as fears mounted that the spread of the Omicron coronavirus variant would hinder global economic recovery. - more

      Taiwan’s Yusco & Tang Eng optimistic about stainless steel market next year - Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, expected a stably growing stainless steel market next year due to recovered global demand and economy during the post-epidemic period. - more

       Output Cuts at Stainless Steel Mills Increased Downside Pressures of High-Carbon Ferrochrome - Recently, the transactions of stainless steel have been lacklustre. The supply has increased after the end of the power rationing. - more

      Courtesy AISI - In the week ending on December 18, 2021, domestic raw steel production was 1,805,000 net tons while the capability utilization rate was 81.8 percent. Production was 1,612,000 net tons in the week ending December 18, 2020 while the capability utilization then was 72.9 percent. - more
  • US long products imports rise 55% on November 2020 to 348kt - more
      Eramet targeted by a financial fraud - Eramet has identified a financial fraud within its central treasury management. Eramet has immediately initiated the necessary investigations and mobilized all internal and external resources required to terminate these fraudulent activities and take remedial action. - more

      Indonesia launches major industrial estate on Borneo island - Indonesia started construction on Tuesday of a new industrial estate on Borneo island, which officials said aims to use hydropower for plants producing items including semiconductors, lithium ion batteries, solar panels and aluminium products. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • How millions of jobless Americans can afford to ditch work - more
  • 7 Deaths From Omicron Covid-19 Coronavirus Variant In UK, Showing It’s Not The ‘Omicold’ - more
  • Stocks, U.S. Futures Rise in Rebound From Slump: Markets Wrap - more

  Morning Stats and Prices

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

Monday, December 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.92/lb ($19,670/tonne). Indicators at 6:05 am CST today show nickel trading around $.19/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started the week just under the 105,400 tonne level. Nickel is falling today and it appears another weekend of wall to wall covid coverage has shaken some investors confidence. European countries announcing new closures are not helping matters. Hypothetical question. If omicron is 4 X more contagious than delta, but 25% as dangerous, are we worse off today than we were a month ago. We are just about convinced that vaccinated or not, boosted or not, covid survivor or not, even masked or not - chances are many of us are going to get sick from this new strain. On an individual and business basis, we have decided how to best be prepared, and how to react. Whether we are personally concerned or not is an individual choice, but disregarding employees concerns is done at ones own peril. Biden's vaccine mandate is back - at least for today. Wells Fargo, in its 2022 Outlook, enters the year neutral on industrial metals, "which face headwinds from China's slow pace of economic growth". Gerber Steel reports stainless steel flat rolled coiled and sheet prices in the EU rose again last week by $100 to $150/tonne. We are updating thru Thursday this week, and taking Christmas Eve off. LME is closed next Monday and Tuesday so our first update next week will be on Tuesday. Stay safe out there this week, Merry Christmas, and have a great week!
  • Average price of LME traded cash nickel so far this month - $9.07/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls on concerns over rising Omicron cases, firm dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4408
  • SHFE Stainless Steel  Futures (yuan) - 15,985
  • U.S. Economy in a Snapshot - more
  • Nickel Magazine Vol 36, No.3, 2021 - pdf here
  • Australian Resources and Energy Quarterly - more
  • 304 Stainless Steel Scrap Price USD/LB  in USA and Canada Scrap Yards Updated - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Aluminium hits 1-1/2 month peak on China supply worries - Aluminium prices touched the highest in over six weeks on Friday after China's output of raw material alumina slumped last month, highlighting the risk of tight supply due to power shortages. - more

      The Demand for Ferrochrome Declined Further as Mills Reduced Production - The output of stainless steel has increased since November as the power rationing has been eased. - more

      China Crude Steel Output Is Estimated to Drop 2.2% YoY in 2022 - China Metallurgical Industry Planning and Research Institute (“MPI”) held a conference on the forecast of China and global steel demand in 2022 as well as the competitiveness (and development quality) ratings of Chinese steel enterprises in 2021 on December 15. - more

      Fujian Hongwang adds 1.3-million-ton stainless steel cold rolling project - According to the Fujian Provincial Department of Industry and Information Technology, recently they had approved the application of stainless steel cold rolling expansion project from Fujian Hongwang Industrial Co., Ltd. - more

      Vedanta Ltd acquires nickel and cobalt maker Nicomet in Goa - Anil Agarwal-led Vedanta Ltd has acquired Nicomet, a Nickel and Cobalt producer based in Goa making Vedanta the sole producer of Nickel in India. - more

      Nickel Ore Inventories at Chinese Ports Fell 241,000 wmt - The nickel ore inventory at Chinese ports dipped 241,000 wmt from a week earlier to 8.77 million wmt as of December 17. - more

      US steel, aluminum prices face year-end inventory pressure - US aluminum and steel prices retreated from record highs, as ferrous mill margins continued to lose steam with falling spot prices, while mill offers declined in order to clear inventory ahead of the year end. - more

      Singaporean spent millions on cars, jewels with nickel fraud loot, charges say - A Singapore businessman used gains from a billion-dollar nickel trading scam to buy luxury cars, property, artwork and jewelery worth tens of millions of dollars, according to charges filed against him by public prosecutors on Monday. - more

      A decade of REACH - Five things we’ve learned about managing REACH dossier updates - More than ten years on from the implementation of the EU’s REACH regulation, NiPERA’s Tara Lyons-Darden looks back and shares some of the learnings and the challenges of maintaining REACH dossiers from the perspective of the Nickel REACH Consortia. - more

     Supply Chain Snags and Emboldened Workers Reflect a Changed Economy - The global economy hadn’t experienced anything like this for decades. Maybe ever. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Trudeau orders ministers to take harder line on US trade - more
  • Your baggy mask isn't going to cut it against Omicron, epidemiologist warns - more
  • Stocks, Futures Sink on Manchin Shock, Virus: Markets Wrap - more

  Morning Stats and Prices

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

Friday, December 17

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.90/lb  ($19,625/tonne). Indicators at 6:30 am CST today show nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and started today just over the 161,100 tonne level. Nickel bounced back above its 100 day moving average yesterday, which from the chart, appeared to be the bulls early morning goal. All base metals had a big day, with nearly all commodities, soft, hard, base, precious, whatever, increasing in value. Nickel continues to rise this morning, but with a far less dramatic movement. Another week, more volatility. The bears were pulling the market lower when last week ended, and continued to do so this week until yesterday's big bounce. Unless we see a stronger afternoon session than the morning has been, we suspect the week will end lower for a second consecutive week. Not a lot of news out there today, as writers shift to remembering 2021, and planning for 2022. Reuters recently started asking readers to sign in for their metals articles. We shifted to Financial Post, who carries the same stories. Now they appear to be shifting to a free subscription only as well. The stories Reuters provide, in our opinion, are very valuable to understanding what is going on daily, and we will return to linking directly to them, when possible, even though they will require a free sign on. When their story has yet to hit the net, we will link to it on the Financial Post. News for free rarely means what it used to and each year we find it more difficult to find good sources to link too. But we are always on the hunt so we can bring you the news you need - or might want. It's Friday, so stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $9.08/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Aluminium hits three-week high on China supply worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4408
  • SHFE Stainless Steel  Futures (yuan) - 15,995
  • Employer Costs for Employee Compensation - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Zinc soars as power crunch forces Nyrstar to idle French plant - Zinc prices jumped more than 5% on Thursday on supply concerns after Belgium-based Nyrstar said it would shutter its plant in France from January due to soaring power prices. - more

      China Nov crude steel output down 3.2% on month as anti-pollution curbs remain - China’s crude steel output fell for the sixth consecutive month in November, slipping 3.2% from October, official data showed on Wednesday, as production restrictions to combat pollution continued and construction demand remained stagnant. - more
  • China’s tariff adjustments on stainless steel-related raw materials keep unchanged - more
      Prohibitive energy and carbon prices risk undermining EU steel industry decarbonisation: EU Leaders must act, warns EUROFER  -  Continued prohibitive energy prices coupled with skyrocketing carbon prices, above 80 euros, risk derailing the ambitious decarbonisation plans of the steel industry. - more

       State of Steel - December 2021 - Steel price increases have seemed to peak in November and are now beginning to fall in December. Coil continues to be in high demand, but the tubing mills are beginning to get relief in the form of shorter lead times. - more

       10 disruptions that rocked supply chains in 2021 - Companies scrambled to adjust operations as they contended with the pandemic, severe weather and the trapped Ever Given in another difficult year for supply chains. - more

  • Supply Chain Crisis Is Especially Detrimental to Middle America - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Congress approves import ban targeting forced labor in China - more
  • Suit: Factory Expressed 'Flagrant Indifference' to Tornadoes - more
  • EU duties will disrupt fastener supply chains - more
  • CDC advisers recommend Pfizer, Moderna COVID-19 vaccines over J&J shot because of rare side effect - more

  Morning Stats and Prices

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

Thursday, December 16

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.66/lb ($19,100/tonne). Indicators at 6:00 am CST today show nickel trading around $.19/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just under the 106,300 tonne level. If you would have asked us last month if LME nickel inventories would fall under 100,000 before the end of the year, we would have said "count on it". Now, we aren't so sure. It's going to be close either way. All base metals are trading higher this morning, with most over 3% higher. When the Fed says it may have to raise interest rates three times next year, it says two things. Money is going to be more expensive to borrow, but that is because the economy is so strong, inflation needs to be kept in check. So for those of you who have to pay more for milk, or want to borrow money for a car, it might stink - but a strong economy makes it so you can pay more. WBMS reports the nickel deficit thru October was 133 kt, compared to a surplus of 84 kt in all of 2020. It appears a majority of metals analysts think the market will return to a surplus next year. We aren't so sure but more on that in a future entry. Lot of stainless news today, so we leave you with it. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $9.09/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper gains as risk appetite, supply concerns increase - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4485
  • SHFE Stainless Steel  Futures (yuan) - 16,115
  • China Industrial Production - more
  • Manufacturers Sales - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Industrial metals fall as Chinese data weakens demand outlook - Prices of copper and most other industrial metals fell on Wednesday as data from China, the biggest consumer, pointed to slowing economic growth and therefore weaker demand for metals. - more

      Scarce supplies to propel aluminum to top LME leaderboard - (excerpt) The copper, zinc and nickel markets are expected to be effectively balanced next year and prices are likely to be steady or lower by the end of 2022. - more

      SunSirs: The Price of Stainless Steel Is Weak and Difficult to Change - According to the price monitoring of SunSirs, recently, the price of stainless steel is still weak and the spot price is reported at 16,900 RMB/ton, an increase of 16.96% from the beginning of the year. - more

       Stainless Steel Mills Jointly Cut the Output to Maintain Order of 200-Series Market - On 13 December, Baosteel Desheng took the lead in issuing the Initiative on Jointly Maintaining the Order of the 200-Series Market and Regulating Market Behaviour and committed to cut the output of 200-series products from the perspective of balancing market demand and supply, by maintaining only one blast furnace in production by March 2022 in an effort to scale back the overall supply by more than 60%. - more

      Taiwan’s 300 series stainless steel HRC price hits 7-year high in Nov - According to statistics, Taiwan’s imports of 300 series stainless steel hot-rolled coils amounted to around 39,200 tons in November, falling by nearly 21% from the previous month. - more

       January to October 2021 Metals Balances - (excerpt) The nickel market was in deficit during January to October 2021 with apparent demand exceeding production by 133.1 kt. In the whole of 2020, the calculated surplus was 84.0 kt. - more

      China Economy Slows as Virus Outbreaks Disrupt Recovery - China's economy grew at an unexpectedly slow 4.9% annual pace in July-September, down from 7.9% in April-June. - more

    Daimler Says Sustainable Batteries Will Be a Marathon Struggle - “Cobalt, lithium, nickel, rare earths, those will remain the problematic cases,” Jungo Bruengger said in an interview. - more

      Should I stay or should I go? Supply chain managers face the 'Great Resignation' - Supply chain managers are not immune to workplace trends. Quite the contrary: mass resignations are now both an internal and external risk for companies. - more

  • Commodities 2022: USWC longshore labor negotiations could further disrupt US freight markets - more
  • Supply-chain hell ignites economic boom along U.S.-Mexico border - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Fed Doubles Taper, Signals Three 2022 Hikes in Inflation Pivot - more

  Morning Stats and Prices

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

Wednesday, December 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.85/lb ($19,505/tonne). Indicators at 6:00 am CST today show nickel trading around $.15/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just under the 107,000 tonne level. Nickel has slipped below its 100 day moving average this morning, by a rather substantial amount. Last night it closed just above. The International Nickel Study Group reported global nickel deficit of only 5,200 tonnes in September. LME stockpiles fell approximately 37,000 tonnes that month. Old timers watch the price of boxes and bolts to tell what supplier costs are doing. Both PPI's are posted under reports. Lot of news and reports today. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $9.13/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls as cautious investors await Fed policy decision - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4491
  • SHFE Stainless Steel  Futures (yuan) - 16,185
  • Producer Price Index - pdf here
  • Producer Price Index by Industry: Truck Transportation - more
  • Producer Price Index by Industry: Deep Sea Freight Transportation - more
  • Producer Price Index by Industry: Transportation and Warehousing Industries - more
  • Producer Price Index by Industry: Corrugated Shipping Containers... - more
  • Producer Price Index by Commodity: Steel Wire, Stainless Steel - more
  • Producer Price Index by Commodity: Externally Threaded Fasteners... - more
  • Producer Price Index by Commodity: Search FRED for your line - more
  • Euroindicators Manufacturing - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Rising inventories undermine aluminum prices - Aluminum prices fell on Tuesday after inventories in London Metal Exchange-registered warehouses jumped, though losses were limited by robust demand and tight supplies expected in top producer China. - more

      India’s ISSDA asks resumption of CVD duty on stainless steel imports from China, Indonesia - The Indian Stainless Steel Development Association (ISSDA) has asked the government to restore countervailing duty (CVD) on imports of stainless steel from China and Indonesia in the upcoming Union Budget 2022-23... - more

       Global nickel market deficit shrinks in Sept to 5,200 tonnes -INSG - The global nickel market deficit narrowed to 5,200 tonnes in September from a shortfall a month earlier of 14,600 tonnes, data from the International Nickel Study Group (INSG) showed on Thursday. - more

      Growth Rates Improve in November - Steel shipments increased in the U.S. and declined at a much lower rate in Canada. Aluminum shipments increased in both countries. - more

      Global steel production forecast at record high in 2022 - MEPS has lowered its annual crude steel production forecast to 1,940 million tonnes, for 2021. Nevertheless, this figure is a new peak for global steelmaking, and represents year-on-year growth of 3.4 percent. - more

      Blockchain could answer big supply chain questions, says BHP - Blockchain technology could help answer ...some of the big questions as products pass through its supply chain, BHP chief commercial officer Vandita Pant said in a news release this week - more

      Ukraine Imports Of Nickel Goes Down By 22% In Jan-Nov - Ukraine in January-November this year reduced imports of nickel ores and concentrate by 21.6% compared to the same period last year, to 1.134 million tonnes. - more

      Courtesy AISI - In the week ending on December 11, 2021, domestic raw steel production was 1,818,000 net tons while the capability utilization rate was 82.4 percent. Production was 1,612,000 net tons in the week ending December 11, 2020 while the capability utilization then was 72.9 percent. - more

      ISM report issues positive 2022 outlook for manufacturing and services sectors - Key indicators in the December 2021 ISM Semiannual Economic Forecast, which was released this week, point towards continued economic expansion in 2021. - more

      U.S. Truckers Are ‘Drowning’ in Empty Containers - Restrictions on empty-container returns at major ports are the top issue that needs fixing to help ease U.S. supply chain bottlenecks, the head of the Harbor Trucking Association said, adding that true round-the-clock operations aren’t yet in place. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Tornadoes Showed Why Businesses Should Have Safe Rooms For Employees And Customers - more
  • Workers Keep Resigning. Here's a Novel Idea to Get Them to Stay - more
  • Despite Mass Resignations, Not Everyone Is Quitting. What We Can Learn From Those Who Are Staying - more
  • Three Myths of the Great Resignation - here
  • US COVID death toll hits 800,000, a year into vaccine drive - more
  • U.S. Futures Waver as Fed Decision Looms: Markets Wrap - more

  Morning Stats and Prices

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

Tuesday, December 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.94/lb ($19,720/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just under the 107,800 tonne level. Nickel continues to slide, and is now trading less than $200 over its 100 day moving average. The ISSF reported yesterday that worldwide stainless steel melt shop production for the first three quarters of 2021 was up 16.9% YOY, with growth in China up less than half that. Indonesia has grown quickly into a major player and has become, or is expected to become soon, the second largest producer of stainless steel in the world. The London Metal Exchange will be closed the Monday and Tuesday after Christmas, and we will not publish updates on the Friday before, or the Monday after. Slower news day so we leave you with it. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $9.15/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Rising inventories undermine aluminum prices - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4491
  • SHFE Stainless Steel  Futures (yuan) - 16,025

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
Stainless Steel in Figures 2021 - pdf here

     Monday's market review - Rising inventories and dollar strength weigh on copper - Copper prices slipped on Monday as rising inventories and a stronger dollar spurred selling, but China’s pledge to front-load infrastructure investment next year capped losses. - more

      Stainless steel production increases by 16.9% 43.0 million tons in the first nine months of 2021 - The International Stainless Steel Forum (ISSF) has released figures for the first nine months of 2021 showing that stainless steel melt shop production increased by 16.9% year–on–year to 43.0 million metric tons. - more

      Russia’s stainless exports to EAEU decreases - Russia’s exports of stainless steel to Eurasian Economic Union (EAEU) countries decreased in January-October, says national special steel association USSA. - more

      Iron ore market to continue rebalancing - Iron ore demand has bone the brunt of deep cuts in the Chinese steel sector. - more

      Australia battery metals players eye S. Korea market prospects -  Australian producers of battery metals hope to out-muscle China and become a key supplier to Korea for electric vehicles, they said on Tuesday after a meeting with South Korea's president in Sydney. - more

      2022 Fuel Forecast Contains Plenty of Questions for Supply Chain Managers - Derik Andreoli, principal at Mercator International, notes that Goldman Sachs forecasts that oil prices could rise to $150 per barrel in 2022 under a full economic reopening scenario. By contrast, Deutsche Bank forecasts that prices will average just $60 per barrel. - more

      Outbreak triggers shutdowns in China’s major manufacturing hub - Half a million people have been left quarantined and multiple companies in one of China’s biggest manufacturing hubs have suspended operations as local authorities try to contain a COVID-19 outbreak.- more

   Other News

  • Reuters The Day Ahead - pdf here
  • Companies Rush to Fix Software Exploit After U.S. Warning - more
  • Deadly Collapse at Amazon Warehouse Puts Spotlight on Phone Ban - more
  • Planning Questions Emerge at Tornado-Destroyed Candle Plant - more
  • Low turnout at New Caledonia independence poll 'weighs heavily' - election observers - more
  • Analysts at IHS Markit Revise 2021 U.S. Real GDP Forecast Based on Supply Chain Export Surge - more
  • U.S. Futures Decline Before Central Banks Meet: Markets Wrap - more

  Morning Stats and Prices

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

Monday, December 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.99/lb ($19,820/tonne). Indicators at 6:00 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started the week just under the 108,300 tonne level. First thing on your too do list today might be to consider instructing all computer users in your company to check and see if there are any security updates for their system. See articles under 'Other News' for why. It's this weeks early bird version of Armagaddeon, courtesy of the internet this time. Oh, what would we do without the complete annihilation of mankind supposedly staring us in the face every Monday morning? Is it any wonder Marketwatch posted an article on Saturday that "More than half of young people surveyed think ‘humanity is doomed’ due to climate change".  The latter news is only relevant to business, if they need, or plan to need, employees in the future, and for those who hope to retire some day. Hopeless kids equals helpless workers for employers. Nickel continued its slow slide on Friday, closing $5/tonne lower than it closed on Monday. The 100 day moving average, which bottomed out in June of 2020 under the $12,500 tonne level, continues to rise, and is now just under the $19,500 tonne level. We show that is its highest level since 2012. The fact that it continues to rise, tells us that apart from the daily noise, the nickel bull remains firmly in control. South African Merafe Resources announced the European benchmark ferrochrome price for the first quarter of 2022 will be $1.80/lb, the same as the current quarter. The price started this year at $1.175/lb. The Australian heavy weights are fighting over a Canadian miner again. And things are getting 'interesting' in New Caledonia again. This happens nearly every year about this time, which makes us wonder why the protests tend to break out during their summers only. Lots of news and we leave you with it. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $9.16/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Rising inventories and dollar strength weigh on copper - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4485
  • SHFE Stainless Steel  Futures (yuan) - 16,160
  • Current US Inflation Rates: 2000-2021 - more
  • Recycling Today - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper drifts lower after U.S. inflation data meets forecasts - Copper prices slipped on Friday after U.S. consumer prices rose in line with expectations, dampening moves by investors to buy commodities as a hedge against inflation. - more

      A matter of class in the nickel market - The primary nickel market could swing back to surplus in 2022, but a structural deficit in the Class 1 market may remain sticky. - more

       Stainless Steel Prices Are Expected to Keep Falling - The futures prices of stainless steel kept falling by more than 1,000 yuan/mt last week, and the spot prices remained in a downward trend. - more

      Metals Demand From Energy Transition May Top Current Global Supply - The clean energy transition needed to avoid the worst effects of climate change could unleash unprecedented metals demand in coming decades, requiring as much as 3 billion tons. - more

      Analysis: Miners face talent crunch as electric vehicles charge up metals demand - University of Kentucky undergraduate Jonathan Little is among the legions of students around the world that the mining industry cannot afford to lose, but already has. - more

      Nickel Mining Is Killing The Rainforest In The Philippines - The demand for battery metals as the auto industry switches to electric cars is forcing us to trade the problem of carbon emissions for destructive mining. - more

      New Caledonia might be about to break from France. Here’s why the world is watching - Many voters in the French territory of New Caledonia go to the polls this Sunday to vote on a referendum on independence - again. - more

  • Pro-independence movement in New Caledonia rejects legitimacy of "No" vote - more

      Wyloo raises offer for nickel miner Noront after talks end with BHP - Australian billionaire Andrew Forrest's Wyloo Metals on Monday raised its offer for Canadian nickel producer Noront Resources Ltd shortly after failing to come to an agreement to support a rival bid by BHP Group. - more

      John Packard Discusses Steel Prices, Inventories & More - Flat-rolled steel inventories continue to rise at service centers, and steel buyers are not flocking to do their normal end-of-year deals with steel mills. - more

  • Removal of Certain General Approved Exclusions (GAEs) Under the Section 232 Steel and Aluminum Tariff Exclusions Process - more

      Long Beach Port Chief Sees Congestion Easing in Six Months - The head of one of the two ports in the U.S.’s busiest maritime gateway said he expects congestion that has caused upheaval throughout supply chains to improve in about six months’ time. - more

  • Vanishing Ships Underscore Supply Woe: Crisis Peak Is a Mirage - more
  • Chinese Seafarers Face Crew Change Challenges - more

   Other News

  • Reuters The Day Ahead - pdf here
  • More than half of young people surveyed think ‘humanity is doomed’ due to climate change - more
  • Companies Rethink Return-to-Office Plans Amid Omicron - more
  • Update on Apache Log4j Zero-Day Vulnerability - more
  • ‘The Internet Is on Fire’ - more
  • U.S. Futures, Europe Stocks Up Before Banks Meet: Markets Wrap - more

  Morning Stats and Prices

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

Friday, December 10

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $9.03/lb ($19,905/tonne). Indicators at 6:15 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today just over the 108,600 tonne level.  SMM is reporting stainless steel mills are taking advantage of  the slow down in demand there, and shutting down some production for facility care and maintenance. Prices there continue to fall as well. Demand for EV cars, and thus EV batteries, continues to grow, with China's Tsingshan now producing nickel matte in Indonesia. India complains of 'drowning' under stainless steel imports from China, and Chinese producers are starting to mumble about stainless steel imports from Indonesia. Seabed mining continues to be a hot topic, with miners and environmentalists once again squaring off. Gerber Steel wrote in a blog entry this week "At least for nickel, conservative forecasts assume a price range of $ 21,000 to $ 21,500 per tonne in the coming year." We try to post any and all price forecasts for nickel and stainless steel when we come across them, but most are published by metals analysts for subscribers only. Speaking of subscriber only, Reuters recently started requiring a free subscription (for now) to access their articles. We will continue to link to their distributor's sites, although they may contain a lot more advertisement. CDC had a good news/bad news report last night. 75% of diagnosed omicron cases (43 so far) have been in fully vaccinated people. That's the bad, and since overseas travelers have to be vaccinated, not unexpected. The good news is since the majority of people who have gotten sick so far are vaccinated, the reported illness' have been mild. We suspect case numbers in the U.S. could explode over the coming months, if fully vaccinated people can get, and spread, this new variant. How sick the unvaccinated could get remains to be seen. Stay safe out there, and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $9.17/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper heads for weekly gain as low stocks and China stimulus support - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4485
  • SHFE Stainless Steel  Futures (yuan) - 15,810
  • Oct Freight Transportation Services Index - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Yesterday's market review - Copper slips as Omicron restrictions power dollar - Copper prices snapped a three-day advance on Thursday as government restrictions to temper the spread of the Omicron variant pushed the dollar higher and dented risk appetite. - more

       SunSirs: Stainless Steel Continued to Fall on the 8th - According to the price monitoring of SunSirs, on the 8th, the spot price of stainless steel was reported at 17,233.33 RMB/ton, down 1.71% from the previous trading day and up 19.26% from the beginning of the year. - more

      The Output at Stainless Steel Mills to Decline 300,000 mt amid Maintenance - According to SMM survey, the domestic stainless steel output totalled 2.3 million mt in November, up 14% month-on-month, but down 10.2% year-on-year. The output totalled 29.72 million mt from January to November, an increase of 10.23% year-on-year. - more

      China's Tsingshan starts producing EV battery raw material nickel matte in Indonesia - China's Tsingshan Holding Group on Thursday said it had officially started producing nickel matte - an intermediate nickel product that can be further processed into chemicals s for electric vehicle (EV) batteries - in Indonesia. - more

      Indian stainless steel sector drowning in Chinese imports - The first half of 2021-22 has seen a 185 per cent increase in stainless steel imports compared to the average monthly imports in the last fiscal, creating havoc for the Indian players. - more

  • High input cost, weak steel prices to hit steel industry earnings: ICRA - more
       Global miners to publish contracts and taxes in transparency drive - Major mining companies have committed to disclosing all mineral development contracts and related taxes signed from January 2021 to strengthen mineral resource governance, the International Council on Mining and Metals (ICMM) said on Thursday. - more

    Battle over seabed mining could sway EVs’ future - An international body is weighing a proposal that could be crucial in determining when and how battery minerals are extracted from the deep ocean floor — a decision with major repercussions for the future of electric vehicles. - more

      House Passes First U.S. Ocean Shipping-Law Revamp in Two Decades - The House passed legislation Wednesday that provides the first major update of U.S. international ocean-shipping laws in more than two decades as the nation grapples with bottlenecks at its ports that are crimping supply chains. - more
  • Languishing Walnuts Show How Shipping Crisis Is Hurting U.S. Farmers - more
  • Glimmers of hope emerge in the supply chain nightmare - more
  • Amid Record-Breaking Year, Port of Long Beach Throughput Falls Almost 5% in November - more
  • With Deadlines Looming, Must Employers Follow Biden's Vaccine Mandates? - more
  • Fed Says Supply Chain Issues Boosting Inflation - more
  • Stocks Fall With Omicron, U.S. Inflation in Focus: Markets Wrap - more

   Other News

  Morning Stats and Prices

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

Thursday, December 9

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $9.19/lb ($20,250/tonne). Indicators at 5:45 am CST today show nickel trading around $.14/lb lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today's session just over the 108,900 tonne level. After two days on the rise, you really weren't expecting a third were you? A see saw goes up and down, and today is a down day. A few months back the news from China that Evergrande might default was seen as Armagaddeon. Today it went into default and the market is not yawning. Two weeks ago there was word of a new strain of covid in South Africa and the markets thought Armagaddeon had once again arrived. Today there is news that studies are verifying omicron is a far more contagious than Delta, and the markets are 'consolidating' this morning according to a Marketwatch reporter. Traders are so skittish they are going to step in bear dung, that they jump ship at the first sign of a leak. This is why day traders grow ulcers, and trends are far more effective for long range planning than day to day volatility. On a personal note, we posted a story under 'Other News' that may be of interest to those of our readers who are taking vaccine doses as recommended by the government. Two years into covid, it appears the vaccine makers are still 'reacting' to the newest and latest strain, and the current booster you are being asked to take is aimed primarily at the Delta strain, while the next "booster", now under development, will combat omicron. We suspect you can start looking for another 'must have booster' around spring. Here is what we "thought" we heard last night on the national news. We thought they said that the initial Pfizer vaccine is not very good against the omicron variant, but that their booster gives you 25 time more coverage. Maybe we missed the good part of the story, and maybe a mathematician can help us out here - but 25 times crap equals what? Sorry - do we sound like an annoyed pin cushion? Stay safe out there and enjoy your day!
  • Average price of LME traded cash nickel so far this month - $9.19/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper slides as dollar firms, stockpiles rise - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4625
  • SHFE Stainless Steel  Futures (yuan) - 15,865
  • Job Openings and Labor Turnover - pdf here
  • Gross Domestic Product by (U.S.) County, 2020 - more
  • Truck Tonnage - more
  • Mineral Commodity Summaries 2021 - pdf here
  • U.S. Imports for Consumption of Steel Products Oct 2021 - pdf here
  • MMi Daily Iron Ore Report (Dec 9th) - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper rises on China stimulus, easing Omicron fears - Copper prices rose for a third day on Wednesday as China, the biggest consumer, stimulated its economy and after Pfizer said a three-shot course of its vaccine could neutralize the new Omicron coronavirus variant. - more

       Will the News of Maintenance Stabilize Stainless Steel Prices? - The stainless steel prices continued to fall in the past few days. - more

      Russia’s Jan-Oct stainless steel exports drop, stainless steel scrap exports hike y-o-y - According to statistics from the Russian Special Steel and Alloys Consumers and Suppliers Association (USSA), Russia’s stainless steel exports totaled around 10,200 tons in the first ten months of this year, dropping by 7% compared to the same period a year ago. - more

      Blackstone restarts Ban Phuc nickel mine and concentrator - ASX-listed Blackstone Minerals has recommenced mining at the company’s 90 per cent owned Ta Khoa nickel project in northern Vietnam and has plans to complete around 1,000 metres of development through the Ban Phuc disseminated ore body, generating nickel ore typical of the life of mine plant feed. - more

      FPX Nickel has its sights on developing one of the world’s top 10 nickel mines - FPX Nickel Corp has revealed results from the first phase of its metallurgical test program that it said demonstrates the potential for a “significant increase” in nickel recovery at its Baptiste project in British Columbia. - more

       7 charts show Southern California's warehousing crunch - Easing the chokepoint is a "balancing act" of labor, warehouse space and goods movement, one expert said. - more

  • Port of Los Angeles’ Gene Seroka Sees Supply Chain Snarls Lasting to End-2022 - more
  • Five Lessons Learned for the Post-Pandemic Supply Chain - more
  • Major Outage at Amazon Disrupts Businesses Across the U.S. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Analysis: Omicron Is a Wake-Up Call for COVID-19 Vaccine Developers - more
  • U.S. Business Advertise Near-Record 11 Million Open Jobs - more
  • European Stocks Steady as Traders Weigh Risks: Markets Wrap - more

  Morning Stats and Prices

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

Wednesday, December 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $9.14/lb ($20,160/tonne). Indicators at 6:00 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just under the 110,000 tonne level. China is reporting stainless steel production was recovering in November, although still lower than November of last year. Both Russia and China report YTD production levels are higher than 2020. Good news but hopefully all stainless steel producers are seeing growth over 2020.  We noticed a new twist from China yesterday. See the article on Iron Ore Port Inventory below and why the stockpiles are growing at their ports. If you are bearish on nickel, you may want to ask Australian mining billionaire Andrew Forrest why he is trying so hard to buy more nickel mines. Of course he could be wrong, as well as all the other billionaires out there trying to find nickel, but we suspect they know something. Stay safe out there and enjoy your hump day!
  • Average price of LME traded cash nickel so far this month - $9.18/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai nickel buoyed by low stocks, posts best day in two weeks - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4625
  • SHFE Stainless Steel  Futures (yuan) - 16,085
  • October 2021 Trade Gap is $67.1 Billion - more
  • US Trade Numbers for stainless steel - more
  • US Trade Numbers for Nickel - more
  • MMi Daily Iron Ore Report (Dec 8th) - more

Stainless steel 21st century metal   Why Stainless Steel

  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • 100 Years of Stainless Steel Video - here
  • Stainless steel: The role of nickel - here
  • The Life of Nickel - pdf here
      A lifetime of savings with stainless steel - more
      Stainless steel specialist course - more

     Tuesday's market review - Copper buoyed by Chinese monetary policy and imports - Copper prices rose on Tuesday after monetary policy easing by China’s central bank and climbing imports into the world’s top metals consumer. - more

      The Volume of Scheduled Production Rebounded in December, and Stainless Steel Fell Slightly on the 6th - According to the price monitoring of SunSirs, the price of stainless steel fell slightly on the 6th, with a price of 17,533.33 RMB/ton, down 0.57% from the previous trading day and up 21.34% from the beginning of the year. - more

       China Stainless Steel Output in November Advanced 14% MoM - According to SMM survey, the domestic stainless steel output in November totalled about 2.63 million mt, up 323,000 mt or 14% month-on-month and down 10.2% year-on-year. - more

      Russia’s stainless output increases in October - Russia’s production of stainless steel increased in January-October, show national statistical service Rosstat data monitored by Kallanish. - more

      Exclusive: China's Metals Output in November -  This is a roundup of China's metals output in November 2021, from an exclusive survey of key producers by SMM analysts. - more

       Iron Ore Port Inventory Rose for Ten Consecutive Weeks, Shipments from Ports Continued to Decline - As of December 3, the iron ore inventories across the 35 Chinese ports tracked by SMM totalled 150.41 million mt, an increase of 1.66 million mt from the previous week and 29.35 million mt year-on-year. - more

      Andrew Forrest inches up at Western Areas - Andrew Forrest’s investment vehicles seem to be ruffling some feathers among nickel miners and processors in Western Australia. - more

   The other side of electric cars: the pollution generated by the production of their batteries - The lithium batteries used in electric cars they need a chemical element called nickel that is extracted from the earth’s surface through an excavation process that damages the ecosystem in which it develops. - more

  • Toyota Announces Electrification Targets For Western Europe - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Missouri health department found mask mandates work, but didn’t make findings public - more
  • O’Neal Industries purchases Slice of Stainless - more
  • China merges mining assets to create rare earths mining giant - more
  • Stocks Fluctuate as Traders Weigh Risks: Markets Wrap - more

  Morning Stats and Prices

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

Tuesday, December 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.99/lb ($19,825/tonne). Indicators at 6:00 am CST today show nickel trading around $.14/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just under the 110,400 tonne level. Nickel fell on Thursday, rose on Friday, fell on Monday, and is up this morning. Remember riding on a see-saw as a kid? In other words, nickel is going no where fast, but will test your suspension getting there. We suspect looking for clues of what is going on in the China stainless steel industry is a fool's errand these days. After the power cuts of October started clearing up, the government started dictating closures for January and February to keep the skies clear during the Olympics. If you are having a bad day, just imagine being a plant manager in Beijing these days. Until March of next year, we suspect any stats about stainless steel coming out of China will be somewhat skewed. Speaking of China, apparently one of their more sophisticated hacker groups call themselves 'Nickel'. And Nickel just got hacked by Microsoft. Which sounds more sinister - Nickel or Microsoft? Kind of like asking which of these seven dwarfs would you hire - Sleepy, Dopey, or Grumpy? None of the above! Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $9.17/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper prices firm as China's monetary policy easing lends support - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4625
  • SHFE Stainless Steel  Futures (yuan) - 16,660
  • Fastener Distributor Index - pdf here
  • MMi Daily Iron Ore Report (December 7th) - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Monday's market review - Copper receives shot in the arm from China's central bank - Copper prices got a boost on Monday after top metals consumer China cut its reserve requirement for banks, fanning hopes for stronger economic growth and industrial metals demand. - more

      Column: London nickel market tightens as China lifts imports: Andy Home - London Metal Exchange (LME) nickel stocks have been falling relentlessly since April of this year. - more

      Global nickel smelting rebounds as Sudbury operations restart - Global nickel smelting activity rebounded in November, powered by gains in North America and Europe, while refined copper production dipped, data from satellite surveillance showed on Monday. - more

      Courtesy AISI - In the week ending on December 4, 2021, domestic raw steel production was 1,807,000 net tons while the capability utilization rate was 81.9 percent. Production was 1,616,000 net tons in the week ending December 4, 2020 while the capability utilization then was 73.1 percent. The current week production represents an 11.8 percent increase from the same period in the previous year.  - more

    Electric Trucks and Buses – No longer second fiddle to Electric Cars - Electrification of light-duty vehicles is trending in many parts of the world and is on track to become a consumer driven phenomenon but let’s not forget the heavy-duty vehicles such as trucks and buses. - more

      Severe Supply Disruptions Are Impeding Business Activity in the Region - As the economy continues to recover from the pandemic recession, many businesses are struggling to keep up with surging demand amid widespread supply shortages and delays.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Microsoft Disrupts Alleged China-Based Hacking Group Called Nickel - MSSP Alert - more
  • ‘China shock’ still shakes world grappling with trade’s future - more
  • EU to Unveil Massive Infrastructure Plan Wednesday - more
  • Stocks, Futures Climb as Technology Shares Rebound: Markets Wrap - more

  Morning Stats and Prices

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

Monday, December 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $9.07/lb ($20,005/tonne). Indicators at 6:00 am CST today show nickel trading around $.09/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started this week just under the 110,700 tonne level. Nickel closed above the $20,000 tonne level on Friday, but has surrendered that level again this morning. China cut their banks reserve ratio to encourage lending, while real estate developer Evergrande is warning of a potential default again. Markets appear confused and mixed. Stainless steel prices in China continue to fall, and since 200 series, which is not dependent on nickel prices like 300 series is, is also dropping, demand, or the lack thereof, appears to be a leading cause in the price drop. A reduction in demand in the 300 series stainless, will lower the need for nickel, and could cause a noticeable drop in the trading price of nickel. That really hasn't happened yet (noticeable but not exaggerated), so nickel traders appear to be looking beyond the daily headlines. Stainless steel stockpiles in China were down last week, with 200 and 400 series actually higher, but not enough to offset the drop in 300 series.  Overall production in October, the latest figures available, show total stainless steel production in China was down nearly 6.9%, with 300 series down nearly 2.3%. It would appear by the numbers we are finding, that 200 and 400 series are suffering worse, both in production and demand, than nickel containing 300 series is. All of this is based on anecdotal evidence, so YMMV.  On Friday, the seven day average of new covid cases in the U.S. jumped over the 100,000 new cases per day level. This is apparently being caused by a resurgence of the Delta variant, as omicron has only recently made its entry into the U.S. On the other side of the world, South Africa, where the first case of omicron was diagnosed on November 25th, was averaging 313 new cases a day the prior week. This weekend, that average was up to nearly 9,000 new cases per day, with actual daily numbers from Friday and Saturday, nearly double 'that' figure. It appears to be highly likely that the world is beginning another 'new variant wave' (many European countries are already well into another Delta wave - some, like Germany, seeing their worse outbreak yet), and regardless of how bad it may or may not get, there is a high probability that volatility will continue to rule equity and commodity markets. Early indications, subject to further evidence, show omicron may be a lot easier to spread than Delta, prior infection of covid offer minimal or no protection, but Omicron may be less dangerous than Delta. As Lt Lockhart put it in the movie Full Metal Jacket "It's a huge s--t sandwich, and we're all gonna have to take a bite." So stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $9.21/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper gets shot in the arm from China central bank move - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4620
  • SHFE Stainless Steel  Futures (yuan) - 16,635
  • BLS Employment Situation - pdf here
  • 304 Stainless Steel Scrap Price - USA and Canada - more
  • Durable Goods & Shipments - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Friday's market review - Copper prices ease as dollar clings on to gains - Copper eased on Friday as the dollar firmed despite underwhelming U.S. jobs data that tempered expectations for a quick monetary policy tightening, though supply issues limited losses. - more

       Has Stainless Steel Started to Decline? - There have been many incidents in which steel mills cut their prices for many times on market downturns. Even the use of hunger marketing cannot save the stainless steel spot market. - more
  • China's crude steel production maintains steady growth - more

      China Weekly Inventory Summary and Data Wrap (Dec 3) - (excerpt) The nickel ore inventory at Chinese ports fell 169,000 wmt to 9.18 million wmt as of December 3. Total Ni content stood at 72,100 mt. - more

      China Manufacturing Improves as Power Shortages Ease - But the recovery faces uncertainty due to the spread of the coronavirus’s omicron variant. - more

     Global Ni supply, demand growth likely in sync in 2022 - The world's nickel supply and demand growth is very likely to be in sync in 2022, given the development of new projects on both the nickel production and consumption sides. - more

      How metal fabricators make the most out of narrow margins - During a late fall webcast, hosted by the Fabricators & Manufacturers Association Intl. (FMA), Steve Zerio, a partner with Novi, Mich.-based Triumph Partners, showed an eye-opening pie chart that broke down where the sales dollars go at a typical custom metal fabricator. - more

    Growth Of Electric Vehicles Endangering Rain Forests - NBC News investigates how the growing efforts to mine nickel to help power electric vehicles are putting rainforests across the world at risk. It’s a reminder that even clean energy comes with an environmental cost. - video here

      Transport Groups Warn That ‘Knee-Jerk’ Reactions to Omicron Variant Could Spark Worse Supply Chain Disruptions - Organizations and unions from across the transportation sector are warning that world leaders’ knee-jerk reactions to the Omicron variant of COVID-19 are putting transport workers and the global supply chain at greater risk of collapse. - more

  • Container Premiums: Surcharges widespread amid equipment shortages, congestion - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Mixed as Investors Mull Omicron; Bonds Slip: Markets Wrap - more

  Morning Stats and Prices

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

Friday, December 3

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $9.05/lb ($19,960/tonne). Indicators at 6:20 am CST today show nickel trading around $.04/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and started today's session just under the 112,600 tonne level. Considering the last few months, and last weeks see saw movements, this week has mostly been a yawner. Nickel prices have 'generally' spent most of their time trading between $19,900 and $20,100/tonne, with the last four closings within a $50/tonne range. As the omicron panic subsides, traders are beginning to get their appetite for risk back, and nickel continuous falling stockpile numbers beckon. The Winter Olympics takes place in Beijing, starting February 4th, 2022, and producers in the area have been ordered to limit or in some cases, eliminate, production during January and February, to cut down on the smog that typically plagues the area. This could cause a further reduction in Chinese steel production, and demand, in the first few months of 2022.  China begins its annual nationwide shutdown to celebrate their New Year on February 1st and 2022, the Year of the Tiger, so some reduction was already anticipated. Heavy snows in Mongolia are causing molybdenum prices to rise, so don't expect 316 stainless to shadow 304 stainless prices lower. Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $9.21/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Aluminium prices firm as China plans hiking coal contract prices - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4620
  • SHFE Stainless Steel  Futures (yuan) - 16,860
  • Global Manufacturing PMIs - pdf here
  • The Beige Book - pdf here

Stainless steel 21st century metal   Why Stainless Steel

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

     Thursday's market review - Copper rises as U.S. markets shrug off Omicron fears - Copper prices rose on Thursday as strong U.S. economic data and rising U.S. stock markets drew attention from concerns that the spread of the Omicron coronavirus variant could dampen demand. - more

      The economy of high-nickel pig iron is gradually decreasing, and subsequent prices are expected to decline - The scrap price cuts for high nickel pig iron compared with scrap. This week, the price of stainless steel fell, which led to a decline in the scrap market price. - more

      SHFE/LME Nickel Price Ratio Rallied - The SHFE/LME nickel price ratio rallied this week after remaining sluggish for several consecutive weeks. SMM believes that the resurgence of the COVID-19 pandemic has triggered overseas concerns over the collapse in the demand. - more

      John Anton: US steel prices to trend down in 2022 - Finished steel prices in the US are expected to trend downward in 2022, according to IHS Markit Director John Anton, which is good for buyers despite certain dangers of disruption ahead. - more

    Toyota turns to Chinese tech to reach its electric holy grail -  Toyota Motor Corp will launch an all-electric small sedan in China late next year, having turned to local partner BYD for key technology to finally make an affordable yet roomy runaround, four sources told Reuters. - more
  • Global Plug-In Car Sales October 2021: Up 70% And At 8.8% Share - more
  • Rising Battery Costs Hit Carmakers, Threaten Climate-Change Push - more

      Low Consumer Confidence in Supply Chains Prompts Early Holiday Shopping, Research Reveals - Bright Data recently released new research that reveals consumer sentiments around the 2021 holiday shopping season, including Black Friday and Cyber Monday. - more

  • November Supply Chain Issues Revisited - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks, Futures Waver Before Jobs Data; Oil Climbs: Markets Wrap - more

  Morning Stats and Prices

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

Thursday, December 2

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $9.04/lb ($19,925/tonne). Indicators at 6:00 am CST today show nickel trading around $.02/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just over the 113,600 tonne level. Nickel continues to trade the headlines and omicron news and until we know more about this variant, markets likely will continue to do so. Comparing the number of mutations in the Alpha, Delta, and Omicron variants, the numbers make it obvious why scientists are concerned, but mutations are not always a negative thing. Unless, of course, you are making a movie in Hollywood. Your raw material monthly averages for November are as follows - Nickel dropped $.01/lb to $8.80/lb from $8.81/lb in October / Molybdenum rose from $19.56/lb in October to $20.09/lb last month / Chromium rose from $5.13/lb to $5.15/lb in November.  We have updated the four PMI's we follow (here) and you will note that starting next month, we are dropping the Caixin China number and going with the government's official number. If you want to continue following the Caixin number, a link to their site is posted at the bottom of the chart. Beginning of a new month means lots of reports coming and more stats for the number crunchers. We will post them as we find them so until then, stay safe out there and have a great day! 23 days till Christmas and 29 days left in 2021.
  • Average price of LME traded cash nickel so far this month - $9.26/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Aluminium dips on Omicron fears, but low inventories cushion fall - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4188
  • SHFE Stainless Steel  Futures (yuan) - 16,820
  • BLS Quarterly Census of Employment and Wages - pdf here
  • US Consumer Confidence Survey - more
  • World Manufacturing PMI - more

Stainless steel 21st century metal   Why Stainless Steel

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

     Wednesday's market review - Copper retreats as Codelco warns of lower prices - Copper prices lost steam on Wednesday after the world's biggest producer Codelco warned of lower prices and surpluses, reviving worries about weak demand from top consumer China. - more

      Stainless Steel Spot Prices Dropped Further and Are Likely to Keep Falling amid Sluggish Trade -  The prices of 300-series cold-rolled stainless steel fell significantly again in Foshan today. A steel mill in south China lowered the prices sharply. - more

      Indonesia drives global stainless steel output growth - MEPS has upgraded its global crude stainless steel production forecast to 56.8 million tonnes, in 2021. - more

      Packard Discusses Steel & Plate Prices & Steel Market Momentum - Sometimes it is the little things that provide hints as to the direction steel prices will take. - more
  • Benchmark Mineral Intelligence - Simon Moores's - forecasts - more
      How an Arctic City Became One of the World's Most Polluted Places - In Norilsk, the northernmost city in the world, the Arctic is warming twice as fast as the rest of the world, but the permafrost and structural problems have not been caused by climate change alone. - more
  • Nornickel sets ambitious annual production goals for the next decade - more

    Why Toyota Still Uses Ancient Nickel Metal Hydride Technology In Hybrids - Toyota plans on having all of its vehicles in a hybrid form by 2025. Included in the 2021 model year is the Toyota Sienna Hybrid option. - more

  • Europe: Plug-In Cars Continue To Expand Market Share In October 2021 - more

      Manufacturing output sees growth in November, reports ISM - Manufacturing output, for the month of November was up slightly over October, remaining on a strong growth path, according to data issued today by the Institute for Supply Management (ISM). - more

  • NBS: China Nov manufacturing PMI back to expansion zone - more
  • ID's November M&A Recap: Another Huge Month - more
  • Stocks Fall as Apple Knocks Tech; Treasuries Dip: Markets Wrap - more

   Other News

  Morning Stats and Prices

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

Wednesday, December 1

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $9.03/lb ($19,910/tonne). Indicators at 6:00 am CST today show nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Tuesday and started today at 114,114 tonnes. Interesting number - like 1-2, 1-2, 0, 2-1 on the calendar today. The Omicron panic is subdued today and  investors are starting to see a future worth investing in once again. This optimism may last hours, or days, but we suspect the fear factor will rule the markets for awhile. China's official manufacturing PMI surprised on the positive side yesterday, while the Caixin numbers show a slowing, falling from 50.6 to 49.9 last month. We wish we understood the Caixin formula better as they seem to show signs of a disconnect from what is really going on the last few months. The EU gave the marriage between Aperam and site sponsor ELG the green light. The Berong nickel mine in the Philippines has come to an end, having depleted its resources. And the U.S. Fed seems to be lost on how slow down inflation in the face of the new virus strain. We want to thank Duraloy Technologies for sponsoring multiple months in 2021, including the month of November. For our December sponsor, we welcome back P. A. Inc. We encourage you to visit their website and see what services they have to offer your company. And we thank them for being a sponsor. We will see a lot of P.A. in 2022, but more on that next month. If you are interested in being a monthly sponsor, we have side banner slots open for 2022. The banner, sized 120 X 200 pixels, can be posted on the month of your choice for $100. This year, ELG Metals advertised a side banner all twelve months, becoming our first annual sponsor. If you want to sponsor a month, please contact us at info at estainlesssteel.com and put 'stainless steel' in the heading to get past our spam filters. Our sponsors keep this daily update free for regulars and guests and we thank them for their support. Stay safe out there and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $9.05/lb (November average)
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper rises as Omicron concerns ease - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • Barchart 304 Stainless Steel Scrap Index (lb) - $.4284
  • SHFE Stainless Steel  Futures (yuan) - 17,055
  • MMi Daily Iron Ore Report (Nov 30) - more
  • China Official NBS Manufacturing PMI - more
  • Global Manufacturing PMIs - pdf here
  • Consumer Confidence Declined in November - more
  • Metalforming Magazine December 2021 - online here

Stainless steel 21st century metal   Why Stainless Steel

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

     Tuesday's market review - Copper hits two-week low on Omicron uncertainty and Fed comments - Copper prices fell to a two-week low on Tuesday as worries about the damage to demand and economic growth from the Omicron coronavirus variant and monetary policy tightening in the United States weighed on sentiment - more

      South Korea’s cold-rolled stainless steel exports increase in Oct - According to the statistic from South Korea, the total exports of cold-rolled stainless steel in South Korea this October were around 37,400 tons, increased by around 1.6% month on month, the total value was around US$118 million, increased by nearly 0.4% from September. - more

      Aperam gets EU green light for acquisition of recycling group ELG - Aperam’s proposed acquisition of German stainless steel and alloys recycling group ELG has been approved by the European Commission, the Luxembourg-based stainless steel producer said Nov. 26. - more

      EU stainless CR coil prices climb as supply tightens - Stainless steel market participants remain cautiously optimistic regarding demand in 2022. - more

      DMCI Holdings Press Release - (excerpt) The Berong mine opened in October 2006 and is expected to be fully depleted by year-end. - more
  • Depleted Berong Nickel‘s old mine to be rehabilitated - more
      Huayou's Indonesia nickel JV starts trial production - China's Zhejiang Huayou Cobalt said on Wednesday its PT Huayue nickel and cobalt smelting joint venture (JV) in Indonesia has successfully churned out its first output after recently commencing trial production. - more

      What Exactly Is Stainless Steel Fabrication? - Did you know that Canada supplies steel to more than 130 nations and territories worldwide? - more

      Service Centers Rate the Mills - The past 12 months were among the most difficult for the steel production industry, as demonstrated by the results from the 20th installment of MCN’s Rate the Mills from Jacobson & Associates. - more

      The Cutting Edge-Fall 2021 - The Cutting Edge is a supplement to the Metal Center News November 2021 issue. This annual supplement gives an overview of important information related to cutting and sawing performed by metal service centers and fabricators. - online here

      Pop-Up Container Yards Offer Pressure Valve for Port Congestion - Walmart has developed an empty space near the ports of Los Angeles and Long Beach into a pop-up container yard. - more

  • Marine Exchange: New Ship Queueing Process at Los Angeles and Long Beach is Working - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Powell says Fed may accelerate pullback in economic support - more
  • Cyber Monday Misses Estimates on Short Supply, Weak Deals - more
  • U.S. Futures Gain With Stocks; Bond Yields Rise: Markets Wrap - more

  Morning Stats and Prices

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


November Archives


Chart temporarily down

Nickel Graph Temporarily Down

Chart temporarily down


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


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




Price of Nickel

Nickel Graph Temporarily Down

Daily Commodity Prices

Site Pages

Stainless Steel Surcharge
Worldwide PMI

Archives

2022
January February March
April May

2021
January February March
April May June July August
September October
November December

2020
January February March
April May June July August
September October
November December

2019 and prior