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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices

Nickel Prices and Stainless Steel Bolts

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Tuesday, January 16

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.83/lb  . Indicators at 6:30 am CST today show 3 month nickel trading around $.24/lb lower. Stockpiles of nickel stored in LME approved warehouses slipped slightly on Monday and remain just over the364,200 tonne level. After failing to close above resistance on two occasions over the past week, nickel was in a free fall this morning. It has quieted a little recently, getting some support as the slide in the Euro ends and turns around. If it turns into a rout, look for support at $5.37/lb. Not finding any reason for the drop except the technical failure to punch thru resistance with any consistency. Traders appear to be pocketing some profits before the market takes them away.
  • Average price of cash nickel so far this month - $5.74/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper hits 3-1/2-week low, nickel slides more than 5 pct - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Why cobalt will struggle to free itself from the DRC - Andy Home - more
  • Dollar Rises as Euro, Yen Slip; Europe Stocks Jump: Markets Wrap - more
  • Weak La Niña continues over the Pacific - more

     Monday's market review - Zinc scales 10-year peak as base metals rally - Zinc hit another 10-year high on Monday as base metals rallied across the board on the back of a faltering dollar, with expectations that the European Central Bank may start trimming its stimulus programme lifting the euro to a three-year peak. - more

     Asian Market of CR Austenitic Stainless Sheets Starts Calmly - The market of cold-rolled (CR) austenitic stainless steel sheets in the Asian region has calmly started. At the end of last year when prices of CR austenitic stainless sheets were likely to fall, such prices recovered due to a rise in prices of the LME nickel, and as it is, the market has started after the New Year holiday. - more

     Import Volume of SUS Products in November 2017 Is 21,745 Tons = Up by 10% from prior month because of increased import from all main countries = The import volume of stainless steel products in November 2017 which was compiled by the Japan Iron and Steel Federation based on the foreign trade statistics prepared by the Ministry of Finance was 21,745 tons, up by 10.5% from 19,683 tons in the prior month. - more

     Remove import duty on raw materials: Stainless steel industry - Ahead of the budget, the stainless steel industry has asked the government to remove import duty on ferro-nickel and stainless steel scrap. - more

     Vale’s Coleman mine remains closed till mid-February - The Coleman nickel-copper mine near Sudbury, owned by Vale Canada, will remain closed until the middle of next month. The owner suspended operations on Nov. 13, 2017, due to safety concerns. - more

     RNC moves toward production decision for Dumont project - RNC Minerals of Toronto is undertaking work this year so that it can make a production decision on its Dumont nickel-cobalt project near Amos in 2019. - more

     After a forgetful 2015, 2016, stars align for nickel - Nickel, widely used for production of stainless steel, took on more heft in 2017 after a sluggish run in 2015 and 2016. - more

     RBI releases draft on hedging of commodity price risk in overseas markets - The Reserve Bank of India (RBI) Friday released draft norms for Indian companies to hedge their commodities exposure from fluctuating prices in overseas markets. - more

     Verdict expected this week in First Nickel and Taurus Drilling case - A judge is expected to deliver a verdict this week in the trial against First Nickel and Taurus Drilling. - more

     Scientists found excitons in nickel oxide for the first time - Russian scientists from Ural Federal University, together with their colleagues from Institute of Metal Physics of the Ural Department of Russian Academy of Sciences, have studied fundamental characteristics of nickel oxide nanocrystals and found excitons on the light absorption edge for the first time.  - more

  Morning Nickel Price Statistics & Figures

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

Monday, January 15

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.77/lb . Indicators at 6:55 am CST today show 3 month nickel trading around $.12/lb higher. Stockpiles of nickel store in LME approved warehouses fell on Thursday and Friday and start the week just over the 364,200 tonne level. With stockpiles falling, seeing the cancelled warrants reading fall below the 30% level for the first time since June of last year is a surprise. The Euro continues to trade higher against the US Dollar, and currently trading at 3 year highs. This is giving LME traded base metals a positive boost. Nickel traders appear to be making another run for the $13,000 tonne level, after falling back to $12,600/tonne last Thursday. A stainless steel index from China we follow fell .23% last week, down 6.2% from this time last year. Interesting week ahead and we wish our readers a good week.
  • Average price of cash nickel so far this month - $5.73/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Zinc surges to 10-year peak as base metals rally - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Exports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Cobalt tax grab will send carmakers on a diversion - more
  • November 2017 US Steel Exports Press Release - more
  • China's commodities buying spree stalls in Dec amid smog fight - more
  • Dollar Slide Deepens as Euro Strength Saps Stocks: Markets Wrap - more

     Friday's market review - Zinc touches new decade peak on tight market - Zinc prices edged up to their highest in more than a decade on Friday, supported by potential shortages and low inventories, but some investors voiced concern about the lofty levels. - more

     Appeal for safety in New Caledonia mines - New Caledonia's mining industry has appealed to all institutions to help restore a safe working environment. - more

     Pro-mining group strongly supports project near the Boundary Waters - The pro-mining group ‘Up North Jobs’ is suing to overturn an order by Gov. Mark Dayton that was considered a setback to the proposed Twin Metals copper-nickel mine near Ely. - more

  • PolyMet approval process is setting a high bar — as it should - more

     Geologists report new promising platinum deposit in Russia's north - According to geologists, the resources in the studied area are about 525 thousand tons of nickel, 464 thousand tons of copper, 29.5 tons of platinum and 133.9 tons of palladium - more

     Zimbabwe: Miners Grapple Falling Ore Grades - Zimbabwe's mining industry, which government has identified as one of the cornerstones of economic growth and development, is facing an uncertain future as the average grade of mineral ore is deteriorating. - more

     12 tonnes of nickel nicked in Bridgend - Officers investigating a high-value metal theft from a Bridgend distribution warehouse are appealing for information. - more

     N. Bay to study supporting Timmins ferrochrome bid - North Bay city politicians will consider throwing their support behind a bid by Timmins for the Noront ferrochrome production facility. - more

  Morning Nickel Price Statistics & Figures

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

Thursday, January 11

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.87/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and now total just under the 368,300 tonne level. Crossing $13,000/tonne yesterday, nickel hit its highest level since April 2015. Back under we are now trading where we were back in early November of last year, before nickel took a month long break from last falls bullish run. We peaked at $5.87/lb twice back then, so that is where we show resistance. Short term technicals have turned mixed, but longer term remain positive. The Euro and China steel prices are quiet today, so neither are adding any momentum to the market, in either direction. Stockpiles are just under 4,000 tonne shy of where they were this time last year, and 1500 tonnes ahead of where the year started. This is our last update for the week, so we wish you a safe and relaxing first full weekend of 2018.
  • Average price of cash nickel so far this month - $5.71/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Shanghai nickel hits 2-month high on tight stocks, output concerns - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • European Stocks Decline; Treasuries Gain With Gold: Markets Wrap - more

     Wednesday review - Nickel pushes through technical levels to 2-1/2 year high - Nickel broke through key technical levels to reach its highest since 2015 on Wednesday as a sharply weaker dollar helped push dollar-denominated industrial metals broadly higher by making them cheaper for users of other currencies. - more

  • Nickel hits 2-1/2 year high on weaker $US - more

     Madagascar nickel mine halts output due to cyclone - Japan’s Sumitomo Corp on Thursday said it and partners Sherritt International Corp and Korea Resources Corp halted output at the Ambatovy nickel mine in Madagascar on Jan. 4, the day before Cyclone Ava hit the area  - more

     The World's Biggest Miner Is Building a Battery Supply Hub It Doesn't Want - Electric vehicles could hold the key to BHP Billiton Ltd. finally finding a buyer for its unwanted nickel operations. - more

     Long-term nickel outlook buoys chief economist - The Federal Government’s office of the chief economist has revised up nickel price forecasts and joined the chorus of voices seeing a jump in future demand for the commodity from the electric vehicle industry. - more

  • Gundlach Sees Commodities Outperforming in Late-Cycle Boom - more

     Philippine nickel ore exports down on bad weather - The decline in nickel ore shipments to China from the Philippines was mainly due to bad weather in Tawi-Tawi while the impact of environmental protection issues in Zambales was rather small. - more

     Regency Mines increases focus on battery metals - Regency Mines is increasing its focus on the battery metals sector where it claims there are significant opportunities. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, January 10

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.76/lb . Indicators at 6:15 am CST today show 3 month nickel trading around $.15/lb higher. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now total just under the 365,900 tonne level. Nickel is jumping today, thanks in part to a stronger Euro, and in part due to speculation based on yesterday's positive World Bank forecast. The Euro is yet back to where it started Monday, but its on the rise. The World Bank forecast sees warning signs for future growth, but do not see them arising this year - thus giving traders room to speculate. At the moment, nickel is trading above resistance at $5.87/lb, but off an earlier high of $5.96/lb. $5.90/lb, or $13,000 kt will offer a psychological level of resistance, which at the moment is holding.
  • Average price of cash nickel so far this month - $5.69/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper up from 2-week low on weaker dollar, global growth forecast - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China's Baosteel keeps main steel product prices for Feb-March unchanged - more
  • November Steel Shipments Up 10.3 Percent From November 2016 - more
  • Stock Rally Tested Amid Rise in Yields; Oil Jumps: Markets Wrap - more

     (Tuesday's review) Tumbling stocks, deficits power zinc's rally to 2007 levels - Zinc prices hit their highest in more than a decade on Tuesday as investors anticipating another year of shortages and falling inventories bought the metal used to galvanise steel. - more 

     Global Economy to Edge Up to 3.1 percent in 2018 but Future Potential Growth a Concern - The World Bank forecasts global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices. - more

     Ji Lin Ji En Nickel Industry receives verdict regarding loan contract disputes - Says it received verdict regarding loan lawsuit filed by Jilin branch of China Huarong Asset Management Co Ltd again the co and two other firms - more

     Property agents look to refinery reopening to spur economy - A reopening or sale of the shuttered Yabulu nickel refinery has been flagged as one of several big developments likely to help spur the economy of Townsville in 2018. - more

     St George backs up nickel find with more high grades - St George Mining’s high-grade Cathedrals prospect in W.A continues to deliver, with latest assay results showing yet more impressive hits of nickel, copper, cobalt and platinum group elements and extending the area of known mineralisation. - more

     Stainless Steel 304 and 316 – The Differences - Stainless is a term that was applied to cover a broad range of steel types and grades developed for oxidation or corrosion resistant applications. - more

     Our View: PolyMet input needed now more than ever - After more than 10 years of skepticism, scrutiny, research, and exhaustive environmental review, what more could possibly be left to discuss and decide regarding the proposed PolyMet copper-nickel mine in Northeastern Minnesota? - more

  • Mining supporters sue Dayton over Twin Metals land access - more

     Stress Corrosion Cracking of Nickel Based Alloys in Water-cooled Nuclear Reactors - The new report from Energy & Natural Resources Market Reports has been published today. It provides updated in 2018 year analysis of energy & natural resources industries. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, January 9

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Monday's trading session at $5.68/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and now total just over the 367,050 tonne level. So far, nickel is entering its third day of doing a big nothing. Daily technicals remain positive, while hourly have soured. The Euro is lower again today against teh US Dollar, adding negative pressure. China steel futures are quiet today, while the price of nickel on the Shanghai Metal Exchange Market, which typically plays follow the leader to the LME, jumped over 1% last night. We noticed a tweet yesterday from DNRR Global who posted a graph showing the expected sales of EV vehicles in 202 wold require an extra 85,000 tonnes of nickel. The highest level of nickel stocked in LME warehouses last year was back in January at 389,154 tonnes in August. The year started at 372,066 tonnes, only 6000 more tonnes than this year started. Unless some major demand other than forecasted EV increase hits, or production falls off a cliff in the next few years, stockpiles can cover the increase in demand with years more in reserve.  
  • Average price of cash nickel so far this month - $5.65/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - LME copper gains as U.S. dollar's rise slows - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Coal dwarfs battery metals in mining deals despite war on pollution - more
  • Finland considers speeding up ban on coal; industry reacts strongly - more
  • Europe Stocks Extend Rally; Dollar, Yen Strengthen: Markets Wrap - more

     Copper hits two-week low, zinc at highest in more than a decade - Copper hit a two-week low on Monday, weighed down by a stronger dollar and as the market consolidated following sharp gains in December, while zinc again reached its highest in more than a decade on supply concerns. - more

     Japan's Purchase Price of HC FeCr for Jan-Mar Down by US Cents 21 = US Cents 126 per lb, which is due to price cut in Chinese domestic market = Japanese stainless steel mills have continued negotiation with multiple overseas ferro-chrome producers to fix the purchase price of high-carbon ferro-chrome for the period from January to March in 2018 and have this time come to an agreement on the price to be down by US Cents 21 from the prior period. - more

     Experts hired to review mining operations - The review of the 26 mining operations ordered shuttered or suspended by former environment chief Regina Paz Lopez last year will start this month, with 25 experts hired to do it, the Department of Finance (DOF) said yesterday. - more

     Cars burned in attack on New Caledonia mine - There has been a fresh spate of vandalism at a New Caledonian mine site on the east coast of the main island. - more

     Courtesy AISI - In the week ending on January 6, 2018, domestic raw steel production was 1,649,000 net tons while the capability utilization rate was 70.7 percent. Production was 1,736,000 net tons in the week ending January 6, 2017 while the capability utilization then was 74.5 percent. The current week production represents a 5.0 percent decrease from the same period in the previous year. Production for the week ending January 6, 2018 is up 0.7 percent from the previous week ending December 30, 2017 when production was 1,637,000 net tons and the rate of capability utilization was 70.2 percent. - more

     Website launched for Sault’s ferrochrome processing facility project - A website was launched today by the project team working on a proposal to have Sault Ste. Marie considered as a potential site to host a ferrochrome processing facility (FPF). - more

  Morning Nickel Price Statistics & Figures

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

Monday, January 8

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.68/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.01/lb lower. Stockpiles of nickel held in LME licensed warehouses jumped sharply on Friday and now total just over the 368,400 tonne level. Technicals remain positive, although there is a negative, albeit slight, trendline setting up for trading so far this year. A China stainless steel index we follow is showing it fell nearly 1% last week. A similar steel index is off 2-1/2% from the prior week. The Euro is off slightly against the US Dollar this morning, although it remains near three year highs. First full week of trading for nickel.
  • Average price of cash nickel so far this month -
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Copper consolidates, aluminium falls to near 2-week low - more
  • Reuters Daily Inside Metals - pdf here
  • U.S. Imports of Stainless Steel Mill Products - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Mini mining boom as export earnings hit a record $214b - more
  • CHARTS: Big mining's surge in value shames tech giants - more
  • Stocks Extend Rally Before Earnings; Euro Declines: Markets Wrap - more

     Friday review - Zinc hits more than 10-year high on deficit worries - Zinc hit its highest in more than a decade on Friday as concerns over market tightness persisted, while copper hit a two-week low as Chinese investor interest was muted with the Lunar New Year holidays looming. - more

     Slowing China demand to curb PH nickel ore exports - Weaker metal demand from China is expected to affect the local mining industry, which has been the Mainland’s chief supplier when it came to nickel ore. - more

    FeNi Luppen may change nickel supply landscape - A similar product to nickel pig iron (NPI) produced in Indonesia, FeNi Luppen, is set to change the global nickel supply pattern if Chinese stainless steel mills are receptive, SMM learned. - more

     Cobalt price bulls' worst fears may just have been confirmed - Cobalt prices went ballistic in 2017 with the metal quoted on the LME ending the year at $75,500, a 129% annual surge sparked by intensifying supply fears and an expected demand spike from battery markets. - more

     Charge chrome smuggling racket thrives - A racket has been smuggling charge chrome out of the IDCOL-run ferroalloys plant here. - more

     Miners in the fast lane on electric vehicle surge - In car factories and showrooms, and on highways and streets around the world, a quiet revolution is gathering speed. - more

     Jubilee Metals Says Tailings Spill Occurred at Hernic's Ferrochrome Mine In South Africa - more

     Commodities: Winners And Losers Of 2017 - The Dow Jones Commodity Index was up 3.0% for the month and up 4.4% YTD, and the S&P GSCI was up 4.4% with a YTD return of 5.8%. - more

     How A Chilean Billionaire Could Poison A Minnesota Wilderness - Trump’s Interior Department is reinstating two 1966 leases, written before today’s federal environmental laws, that could allow a Chilean mining company to build a giant copper-and-nickel mine adjacent to the Boundary Waters wilderness area in northern Minnesota. - more

  • PolyMet is nearly clear to build controversial Iron Range mine - more
  • 4 things to know about the PolyMet mine - more

  Morning Nickel Price Statistics & Figures

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

Thursday, January 4

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Wednesday's trading session at $5.62/lb . Indicators at 6:25 am CST today show 3 month nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME approved warehouses fell o Wednesday and now total just over the 365,900 tonne level. After starting the year with a pair of negative days, nickel bulls have risen to the challenge and drove nickel higher this morning. The Euro continues to trade higher against the US Dollar, adding positive momentum that traders have not been taking advantage of the last few days. Chinese steel futures are meandering, and off December highs. Technical indicators are nearly all firmly bullish, with fundamental indicators quiet. The Baltic Dry Index had its first gainer day since it peaked out at 1743 on Dec 12th; today reading 1262. This is our final update for the week and we wish you a safe and relaxing weekend.
  • Average price of cash nickel so far this month - $5.71/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - Zinc hits more than 10-year high on deficit worries - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Stocks Climb on Global Growth Hopes; Dollar Slides: Markets Wrap - more

     Wednesday review - Seasonal demand for car batteries lifts lead to 11-week peak - Lead prices hit an 11-week high on Wednesday as expectations of seasonally strong demand and the likelihood of shortages over the winter months spurred investor buying. - more

     North American Stainless press release - For many years the North American Stainless Traffic department has worked hard to bring you high service scheduling of your product at very reasonable prices. Since our last freight rate change more than five years ago, the freight industry has changed significantly with new government regulations and operational cost leading to higher freight expenses. In effort to offer stability in supply NAS has worked the last couple of years to absorb these increases but the continued rise of rates now requires NAS to pass a portion of these cost on through a freight rate increase. Effective January 15th, 2018, North American Stainless will increase rates an average of 20%. The rate increases will vary depending on shipping lane/location. - more

     Electric Cars Charge Up Cobalt -- WSJ - A handful of Canadian miners are ramping up operations to mine cobalt, betting on demand for a socially responsible source of the metal that is in high demand as a key component of electric cars. - more

     Trump administration renews mining leases near Minnesota wilderness, reversing Obama - The Trump administration moved Friday to renew leases for a copper and nickel mining operation on the border of Minnesota’s Boundary Waters Canoe Area Wilderness, reversing a decision made in the final weeks of Barack Obama’s tenure in office. - more

     Courtesy AISI - In the week ending on December 30, 2017, domestic raw steel production was 1,637,000 net tons while the capability utilization rate was 70.2 percent. Production was 1,607,000 net tons in the week ending December 30, 2016 while the capability utilization then was 67.8 percent. The current week production represents a 1.9 percent increase from the same period in the previous year. Production for the week ending December 30, 2017 is down 4.7 percent from the previous week ending December 23, 2017 when production was 1,718,000 net tons and the rate of capability utilization was 73.7 percent. - source

     Dangerous powder not used in Sudbury mines - The McIntyre Powder Project has obtained a document that outlines all the mines in Ontario where aluminum dust was used in an ill-fated attempt to protect workers from developing a lung condition known as silicosis. - more

  Morning Nickel Price Statistics & Figures

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

Wednesday, January 3

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Tuesday's trading session at $5.72/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.04/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Tuesday and now totals just under the 366,100 tonne level. Nickel peaked at $5.81/lb in early morning trading yesterday, and has been on a down trend since. The CHina steel index continues to slowly trend lower, after peaking on Dec 22nd. We show resistance at $5.81/lb, with support at $5.37/lb. Technical indicators remain bullish. Second article below covers BMI Research's forecast for nickel to average $4.54/lb in the coming year.
  • Average price of cash nickel so far this month - $5.76/lb
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - China metals ease; lead gains as frigid weather persists - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • (SMM) China’s steel MPI in December stood at 50.2 points, down 2.9 points from November
  • Europe Stocks Gain as MiFID Begins; Dollar Rises: Markets Wrap - more
  • La Niña persists in the tropical Pacific - more

     Tuesday review - Deficits on the horizon drive zinc to 10-year peak - Zinc scaled 10-year peaks on Tuesday as the market focused on looming deficits due to falling supplies, but gains were capped as prices are at levels which are likely to encourage investment in new output. - more

     The global downtrend of nickel is set to continue - Nickel prices are set to unwind in coming months as fundamentals loosen on the back of increased supply from Indonesia and subdued demand from China. - more

     Nickel on the upswing - It looks like 2018 will be a very good year for nickel. Last month, world metal markets closed for the Christmas break with nickel on an upswing. The metal reached $5.46/pound U.S., more than $1 U.S. higher than the average price of $4.43/pound U.S. in the first half of the year. - more

     After a rollercoaster ride, commodities show their mettle - After the rollercoaster ride of recent years, commodity markets enjoyed a strong year in 2017, with investors and mining companies adjusting to the new normal – and banking the gains. - more

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

     Don't Mine What's Mine: Boundary Waters Threatened Again - The Boundary Waters is a special wild-place. An interconnected system of lakes, rivers, smaller tributaries, and wetlands, spanning over a million acres along the northern edge of Minnesota, it has been kept pristine thanks to its wilderness designation. Formally known as the Boundary Waters Canoe Area Wilderness (BWCAW), it is America’s most visited wilderness. - more

    Tennessee teen’s allergy to braces almost killed her - A teenage girl who suffered fevers, blisters on her mouth and excruciating pain while chewing and swallowing stumped doctors for months until it was finally revealed that her braces were behind her painful symptoms. - more

  Morning Nickel Price Statistics & Figures

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

Tuesday, January 2

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Three month nickel closed Friday's trading session at $5.79/lb . Indicators at 6:20 am CST today show 3 month nickel trading around $.06/lb higher. Stockpiles of nickel store din LME licensed warehouses fell to start the week just over the 366,600 tonne level. For 2017, stockpiles started the year at 372,066 tonnes and ended 5,454 tonnes lower. The most it registered for 2017 was on August 31st, at 389,154 tonnes, and Friday's close was the low. Thus, LME stockpiles did a big nothing during the year. Seeing a few reports that nickel closed 26 to 27% higher for the year. This would apparently be based on the fact nickel ended 2016 at $4.55/lb and closed at $5.79/lb on the last day of 2017. That is one way of looking at it, but we would tend to think the average price of nickel over the entire year would be a little more realistic and an increase of $4.36/lb to $4.73/lb is much smaller. The average of the first three moths of 2017 was much smaller at $4.67/lb than the $5.66/lb of the last three. Either way, it was a good year for nickel producers and with strong economies in most parts of the world, it was a good year for stainless steel producers as well.
  • Average price of cash nickel so far this month - $5.18/lb (December average)
  • Average price of LME traded nickel in 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb / 2014 - $7.65/lb

  Reports

  • Reuters metals morning - LME copper starts 2018 firmer on strong China demand - more
  • Reuters Daily Inside Metals - pdf here

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Yieh Daily Asian Stainless Steel News - more
  • Baltic Dry Index - (chart)
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • European Stocks Slide; Dollar Extends Decline: Markets Wrap - more

     Friday review - Chile and China to shape copper's fortunes next year - China’s war on polluting industries, its supply reforms and robust demand growth have this year combined to create a bonanza for copper and aluminium which are heading for their biggest rises since 2009. - more

     Base Metals: Zinc & Lead to outperform peers - TDS - Analysts at TDS expect that certain metals will outperform their peers, as the respective markets tighten while scarce inventories along with firm demand precipitate deficits. - more

     Clear winners: China's war on smog lifts metals, LNG to multi-year peaks - Industrial metals, liquefied natural gas and steel are expected to finish 2017 in stunning fashion as a crackdown on pollution in China, the world’s no.2 economy, boosts demand for cleaner fossil fuels and raw materials vital to clean-tech industries. - more

     North American Stainless press releases - #1 For the month of January 2018, North American Stainless will maintain the fuel surcharge at 23% for stainless flat and long products. #2Effective with shipments January 1, 2018, North American Stainless will make the following price changes: • Cold Rolled 300 series, 200 series, and 400 series increase achieved by reducing the functional discount 2 points. - more

     Supreme Court rules in favour of Mount Isa Mines and allows removal of QNI equipment from Port of Townsville - Plans to reopen Yabulu nickel refinery have struck a snag with Glencore terminating the QNI joint venture’s Townsville port berth licence and the Supreme Court ruling the joint venture’s equipment can be removed from the berth. - more

     Copper-nickel mining near the Boundary Waters - Chile´s Antofagasta Plc will push ahead with permitting for a copper-nickel mine in Minnesota after the Trump administration overturned an Obama-era decision to protect the Boundary Waters wilderness area. - more

  Morning Nickel Price Statistics & Figures

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

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