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


Stainless Steel News and Nickel Prices

Duraloy



Scott Stainless



Elg Metals Worldwide







Friday, January 29

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.08/lb  ($17,810/tonne). Indicators at 6:45 am CST today show nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses, for a second consecutive day, went unchanged and remain just below the 248,900 tonne level. Nickel was trading near the $17,500/tonne level earlier this morning, but since then, the US Dollar has weakened after an initial surge, and nickel has recovered some of its earlier loss. In other words, nickel appears to be following the Euro - so far this morning. Lots of news for you today, and some reports to boot. Its the final work day of the first month of 2021, so stay safe out there and have an enjoyable weekend.
  • Average price of LME traded cash nickel so far this month - $8.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper slides, higher dollar activates profit-taking - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3821
  • SHFE Stainless Steel  Futures -  14,450
  • Industrial Production - pdf here
  • Advance Monthly Wholesale Inventories - pdf here
  • Advance U.S. International Trade in Goods - pdf here
  • U.S. Gross Domestic Product, Fourth Quarter and Year 2020 - 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

     Thursday's market review - Copper gains as the dollar eases in choppy trade - Copper gained on Thursday in choppy trade as the dollar reversed gains, making commodities prices the greenback cheaper for buyers with currencies. - more

      Another commodity supercycle is coming — this time driven by renewable energy and EVs - The transition to an electrified clean energy economy is going to result in a monumental draw on metals and minerals from the earth's crust - more

       EU stainless buyers face shortages as prices surge - European stainless steel producers have raised their prices for 300 and 400 series hot and cold rolled coil multiple times throughout December and January. - more

      Western Areas confident of strengthening nickel market - Western Areas has capitalised on strong nickel trading during the December quarter despite being impacted by lower grades at the Forrestania operations in Western Australia. - more

      India’s steel production declines by more than 10% in 2020, while China and Russia produced more steel than previous year: Worldsteel - Bucking the global trend, China and Russia produced more steel in 2020 than in 2019. Among the top five nations, production declined in India, Japan and the United States by up to 17.2 per cent. - more

      Second Wave Hasn’t Stalled Commodities’ Momentum… Yet - The near-term economic outlook has weakened due to new restrictions in response to the COVID-19 pandemic’s second wave, but that has not yet filtered into commodity pricing. - pdf here

      Steel Imports Declined 21.2% in 2020 -  Based on preliminary Census Bureau data, the American Iron and Steel Institute (AISI) reported today that the U.S. imported a total of 1,494,000 net tons (NT) of steel in December 2020, including 1,340,000 net tons (NT) of finished steel (up 9.0% and 13.5%, respectively, vs. November final data). - more

      Multi-channel strategy a success for Würth Group - According to its preliminary annual financial statement, Würth Group has reported a sales volume of €14.41 billion in 2020 ­– slightly above 2019, which was €14.27 billion. - more  (in 2010, Wurth established a goal of $20 billion Euro's by 2020 - they appear to be a tad shy)

      5 With ID: Justin Roff-Marsh Wants to Set Salespeople Free - The Ballistix founder & CEO says it’s not that salespeople have the wrong intentions — they simply operate in an environment that constrains them. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • US Economy Shrank 3.5% in 2020 - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Thursday, January 28

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.12/lb ($17,900/tonne). Indicators at 6:05 am CST today show nickel trading around $.13/lb  lower. Stockpiles of nickel stored in LME licensed warehouses remained unchanged on Wednesday and started today reading just under the 248,900 tonne level. Not sure if the Game Stop debacle yesterday has put investors in a sour mood today, but looking at the commodity and major equity boards around the world, its a chore to find anything trading in the black. Nickel is at a two week low, and it appears to be merely caught up in the global sell off. The U.S. Dollar is higher today, which is adding more negative sentiment on base metals. Lot of reports and articles below, including one of the  Redd it users versus GameStop shorts - and a small Australian nickel mine that saw its stock soar because some of the Reddit sheep misunderstood their target. At first look, we didn't give this whole Game Stop situation much credit, but a quick look at the top 5 headlines on the Marketwatch page, show professional investors are taking it very serious - so we now feel this is playing a part in today's market move. Stay safe out there and have a great Thursday.
  • Average price of LME traded cash nickel so far this month - $8.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Firmer dollar, sell-off in equities push Shanghai copper to 1-month low - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3871
  • SHFE Stainless Steel  Futures -  14,135
  • Durable Goods Orders & Shipments - pdf here
  • ATA Truck Tonnage Index - pdf here
  • U.S. Imports for Consumption of Steel Products Dec 2020 - pdf here
  • USGS Iron and Steel Scrap in October 2020 - pdf here
  • Jindal Stainless Post January 2021 - pdf here
  • Recycling Today January 2021 - 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 - Zinc at two-month low as stockpiles surge and China demand wanes - Zinc prices slumped on Wednesday to their lowest in more than two months on a sharp rise in inventories that highlighted excess supply as demand falters in China. - more

     Base metals prices forecast to rise sharply in 2021, less so in 2022 - As the world’s economies start to pick up following the impacts from the Covid-19 pandemic, CPM Group’s director of commodities and asset management Carlos Sanchez expects base metals markets to return to normality in 2021, supporting increases in prices. - more

      China's stainless steel production rises in 2020 y-o-y - According to statistics from the Stainless Steel Branch of China Special Steel Enterprises Association, the production of crude stainless steel in China amounted to around 30.14 million tons in 2020, growing by 2.51% compared to the previous year. - more

      Global production rises year on year in Q3 2020 while use falls - Figures released today by the International Molybdenum Association (IMOA) show that the global production of molybdenum rose by 5% to 149.5 mlbs when compared to the same quarter of 2019, a 1% rise when compared to the previous quarter of 2020. - more

      Steel: Depleting iron ore supply among reasons for price increase - CIDB  - Inadequate supply of iron ore worldwide is among the reasons why the price of steel bars in the country’s construction sector has increased, said Construction Industry Development Board (CIDB). - more

      EU to End Tariffs on $3.4 Billion Goods If U.S. Lifts Metal Duty - The European Union would immediately lift retaliatory tariffs on about $3.4 billion of U.S. goods if America removes its duties on metals imported from the bloc, the EU Ambassador to the U.S. said. - more

      DNR Board passes new mining regulations, raises permitting fees for metallic mining - The Natural Resources Board, the policy-setting arm of the Wisconsin Department of Natural Resources, approved a new set of mining rules Wednesday, updating how the agency will permit metallic mining for the first time since 1982. - more

      Australian Mining Stock Surges After Being Mistaken For GameStop - Trading volume in the company was at more than 20 times the normal average, leading some to believe that GME had been mistaken for GameStop - more

  • Redditors took on hedge funds over GameStop and AMC Theatres stock and won. So what now? - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Fastenal Company Reports 2020 Annual and Fourth Quarter Earnings - pdf here
  • China fails to learn from Trump backfire in trade war, is losing against Australia - more
  • Europe Stocks Wipe Out 2021 Gains; Futures Drop: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, January 27

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.20/lb ($18,080/tonne). Indicators at 6:40 am CST today show nickel trading around $.07/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today's session just under the 248,900 tonne level. Not a lot to report today. Nickel appears to be using the $18,000 tonne level as a gauge to trade around, with little more than speculative hopes to fuel the bull. For those stainless steel prices that have yet to catch up with nickel, they soon will. World stainless production was down last year, thanks to the worldwide pandemic. Stay safe and have a great hump day.
  • Average price of LME traded cash nickel so far this month - $8.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Zinc slides to two-month low as stocks surge, China demand wanes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3887
  • SHFE Stainless Steel  Futures -  14,305
  • EV Sales Europe Dec 2020 - 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

     Tuesday's market review - Weakening dollar lifts copper as rally loses momentum - Copper rose on Tuesday as the dollar weakened, making metals cheaper for buyers outside the United States, but the slow progress of U.S. stimulus measures and concerns about Chinese demand capped gains. - more

       Global crude steel output decreases by 0.9% in 2020 - Global crude steel production reached 1,864.0 million tonnes (Mt) for the year 2020, down by 0.9% compared to 2019. - more

      Hiring for attitude while hunting for skilled labor in manufacturing - There’s an old saying that employers hire for skills and fire for attitude. Many fabricators would agree.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Slip Before Fed; Earnings Spur U.S. Tech: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, January 26

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.29/lb  ($18,280/tonne). Indicators at 6:10 am CST today show nickel trading around $.04/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended the day just under the 248,700 tonne level. Reuters is reporting the reasoning behind the jump in Chinese stainless steel futures is higher raw material costs and inventory builds based on expectations of strong demand following the New Year holiday break in February. A Chinese official is also being quoted as confirming the covid lockdowns so far, have been limiting travel in and out of the effected territories and restricting extra circular activities. So far, manufacturing has not been affected.  The world saw its 100 millionth confirmed case diagnosed yesterday, with a death toll in excess of 2.1 million. A Chinese steel group is reporting 300 series stainless steel production in that country rose 6.58% in 2020, which represents 47.71% of all stainless production there. Imports of stainless steel rose 61.33% into China, while exports fell 6.95%. Lot of news below, so we leave you with it. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.10/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper slips for a fourth day as rally loses momentum - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3870/lb
  • SHFE Stainless Steel  Futures -  14,480/yuan

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 - Tight supply pushes tin prices to highest since 2014 - Tin rose to its highest since 2014 on Monday after a shortfall of the metal used in solder to connect components in electronic devices pushed up prices for 12 straight weeks. - more

      Shanghai stainless steel jumps on rising raw material prices, post-holiday demand - Stainless steel futures on the Shanghai Futures Exchange rose as much as 2.5% on Tuesday, gaining for a second straight session, fuelled by rising raw material prices and expectations of strong demand after the Chinese New Year holidays. - more

  • China stainless steel output, consumption rise in 2020 - more

      Taiwan’s Yusco & Tang Eng expected to hike prices on high nickel prices - The international nickel price has reached a six-year high recently, coupled with the continuous increases in prices of key raw materials for stainless steel making, such as nickel pig iron, ferrochrome, and scrap, Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, were expected to hike their domestic and export sales prices for February. - more

      Sherritt meets 2020 guidance, but shares fall - Sherritt International on Monday reported its production results for full-year 2020, and also provided guidance for expected production, unit costs and capital spending in 2021. - more

      Govt Seeks To List Biggest Mining Company - Zimbabwe, banking on mining to end two decades of economic stagnation, plans to list the company in which it has placed state mining assets to raise cash to meet government obligations, the nation’s finance minister said. - more

  • BNC To Tap 8 000m Underground To Increase Nickel Production  - more
       Malaysia revises anti-dumping duties on steel from Vietnam - Malaysia has revised duties on imports of cold-rolled coils of alloy and non-alloy steel from Vietnam to 7.42-33.7 percent for the period between January 24 and May 23.  - more

      Courtesy AISI - In the week ending on January 23, 2021, domestic raw steel production was 1,717,000 net tons while the capability utilization rate was 75.7 percent. Production was 1,906,000 net tons in the week ending January 23, 2020 while the capability utilization then was 82.4 percent. The current week production represents a 9.9 percent decrease from the same period in the previous year. - more

       Mining resolution figures to divide St. Louis County Board this week - A resolution opposed to state or federal bans on copper-nickel mining has the support of the Iron Range and rural commissioners, but Duluth's Patrick Boyle bristled, describing it as unnecessary and 'divisive.'  - more

  • Stauber introduces Saving America’s Mines Act - more

      4 Advantages of Working with Stainless Steel in 2021 - Stainless steel or corrosion-resistant steel is a generic name for many different steels that are primarily used due to their corrosion resistance for a specific application or a specific environment. It is an alloy of iron and at least 12% chromium. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Job Losses from Virus 4 Times as Bad as '09 - more
  • China takes new foreign investment top spot from US - more
  • Stocks Trade Mixed as Dollar, Treasury Yields Rise: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, January 25

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.15/lb ($17,960/tonne). Indicators at 6:00 am CST today show nickel trading around $.16/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and ended the week just over the 248,800 tonne level. After a week which saw nickel trade at its highest level since 2014, it collapsed on Friday to within a few dollars per ton of where it ended the prior week. It's bounced back higher this morning, and appears to be following a Monday rally held in China. US stainless steel surcharges are out for February and speaking of prices we have not seen since 2014 - well you can see for yourself here. If you aren't paying the highest stainless steel prices you have seen in the last seven years, stand by. This is one of those times distributors should be making a higher profit margin as their inventory becomes more valuable by the day. And they are smart if they profit from it, because stainless spends equally damaging time on the decline as it does on the rise. For those who have survived the past periods of steep declines, when inventory becomes more overpriced by the day, suppliers are forced to dump profits to move stock and make room for more competitively priced inventory. So there is no reason to feel guilty about making money now while you can, because you'll find it very hard to maintain respectable profit margin when the market falls. And it will fall. A number of metals analyst are now prophesying we are in the beginning stages of a commodity super cycle. We remain highly skeptical, and would suggest nickel may have already seen the better gains of its most recent bullish run, which is now in its 10th month. The prior bullish run with staying power lasted a year, from January 2018 to January 2019, and prior to that, May 2016 to May 2018. The most outrageous, and yet arguably the one most based on actual fundamentals (and panic), was from October 2005 thru April 2007. One could argue, regardless of the ups and downs, that the market has been in a bullish run since March 2016, after the bearish retreat, including bear and bull markets, ended from the April 2007 all time price peak. So will the average price of nickel increase this year from 2020? We suspect that is very likely. But, like every market twist and turn, we will have to wait and see what's around the next corner. It's the start of the final week of the first month of 2020. Stay safe out there and have a great week!
  • Average price of LME traded cash nickel so far this month - $8.08/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper edges higher on U.S. stimulus hopes, weaker dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3869
  • SHFE Stainless Steel  Futures -  14,275
  • ATA Truck Tonnage Index - 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 slips as China's coronavirus outbreak raises demand fears - Copper fell on Friday alongside stock markets and oil prices as poor economic data and new coronavirus restrictions in China, the world's biggest raw materials consumer, weakened the outlook for economic growth and demand. - more

      China’s nickel sulphate imports rise in 2020 - China's nickel sulphate imports increased in 2020, supported by rising demand from the new energy vehicle (NEV) industry despite the impact from the Covid-19 outbreak in the first quarter of the year. - more

      Sumitomo to book additional 30 bln yen impairment on Madagascar nickel project - Japan's Sumitomo Corp 8053.T said on Monday it will book an additional impairment loss of about 30 billion yen ($289 million) on its Ambatovy nickel project in Madagascar for the October-December quarter to reflect the revised output plan. - more

      Cliffs to restart Cleveland-area blast furnace, stresses value over volume: company  -  Cleveland-Cliffs will restart the No. 6 blast furnace at its steelmaking operations in Cleveland as the company is rotating its Ohio steelmaking amid a planned outage scheduled at its Middletown Works, a spokeswoman for the company said Jan. 22. - more

      Damaged Economy, but Signs of Hope Emerging -  The U.S. has some 10 million fewer jobs than a year ago, and as many as one in 6 small businesses has shut down. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • The incredible backdrop to the global stock-market rally  - more
  • China to leapfrog U.S. as world's biggest economy by 2028, report says - more
  • Tech Leads Gains in Stocks; Crude Oil Climbs: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Friday, January 22

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.40/lb ($18,515/tonne). Indicators at 6:45 am CST today show nickel trading around $.25/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Thursday and started today's session just under the 249,400 tonne level. The commodity board is awash in a sea of red this morning, as virus concerns force many investors to bank some profits. Yesterday, we were looking to $8.74/lb as the next level of major psychological resistance, which is where nickel traded in May 2014, and the highest nickel has traded since February 2012. Today, nickel has already fallen back below the $18,000/tonne level and has yet to find some solid footing, and we are looking for levels of technical support.  China is discouraging travel in that country during next months Lunar New Year Holiday, after forbidding it last year. By our standards, the recent outbreak there is very small, but the country's reaction shows they want to keep it that way. Markets fell their overnight, and this may be one of those rare occasions where LME traders shadow, instead of lead, Chinese base metals markets. Covid is not going away anytime soon, and continues to be a major factor in nickel pricing, and stainless steel demand. Stay safe out there and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $8.08/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper falls as rising COVID-19 cases in China stoke demand worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $,3840
  • SHFE Stainless Steel  Futures -  14,005

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's ascent hindered by doubts about China demand - Copper prices rose on Thursday, helped by a lower dollar and sliding stocks in London Metal Exchange registered warehouses, but gains were capped by expectations that demand growth in top consumer China had for now reached a plateau. - more

      Nickel price nearing key threshold to spur investment - Nickel prices are drawing closer to the $20,000/t threshold required to spur investment in new supply. - more

      Eurofer supports EU stance on Indonesian nickel exports - A European Union call for an investigation into restrictions imposed by Indonesia on the export of raw materials necessary for the production of stainless steel, notably nickel ore and iron ore has been backed by the European Steel Association (Eurofer). - more

      Iron ore rally may lose steam as rise in supply and easing of demand from China loom large - Iron ore started 2021 in much the same fashion as most of last year, moving higher and adding to a rally that saw the spot price surge 75% in 2020. - more

      Forrest unveils Fortescue’s green steel plans - Fortescue Metals Group chairman Andrew Forrest has revealed his ambitions to build Australia’s first green steel pilot plant this year. - more

      ISM Expects US Manufacturers to Increase Capital Spending 2.4% in 2021 - Economic improvement in the United States will continue in 2021, say the nation's purchasing and supply management executives in the December 2020 Semiannual Economic Forecast. - more

  • Distributor Pandemic Revenue Index Reverts to Modest Growth - more
  • Fastenal's Fastener Sales Grow for 1st Time Since the Pandemic Started - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Stumble With Virus Concerns Back in Focus: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

A new wave of Covid-19 cases in China’s Hebei province triggered transport restrictions in the major steel-producing region - more

Thursday, January 21

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.26/lb ($18,210/tonne). Indicators at 6:05 am CST today show nickel trading around $.09/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and ended that session just under the 249,400 tonne level. Nickel finished Wednesday unchanged from the prior day, but the bulls are back this morning. Nickel traded within the shadow of $18,500/tonne earlier, but has retreated from that 7 year high since. And if it wasn't for that earlier high today, we would still be trading at levels not seen since 2014. The Euro is higher this morning and that typically gives commodity trading a boost. In light of the fact China's expanding covid cases has that nation on edge, it  is interesting that so far, nickel traders appear to be shrugging off quarantine concerns. They appear to be forgetting the saying that when it comes to base metals - "When China sneezes, the rest of the world catches a cold". It's Thursday and we are on the downhill slide. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.06/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper's ascent hindered by doubts about China demand - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3910
  • SHFE Stainless Steel  Futures -  14,315
  • Mine Magazine - Feb 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

     Wednesday's market review - Copper gains on bets that Biden can push through stimulus -  Copper pushed higher on Wednesday on renewed optimism over the prospect of another tranche of stimulus spending in the United States, helping to boost economic recovery and metals demand. - more

      Greater nickel usage, vertical integration, now major trends in EV batterymaking: Roskill -  Increased nickel content in batteries will be a key trend in evolution of the electric vehicle market, as consumers demand more range at affordable prices, analysts at UK-based consultancy Roskill said. - more

      WBMS Press Release January 2021 - (excerpt) The nickel market was in surplus during January to November 2020 with production exceeding apparent demand by 53.6 kt. In the whole of 2019, the calculated deficit was 27.6 kt. - more

      Column: Death of the ring could be only the start of LME revamp - Andy Home - The London Metal Exchange (LME) proposes to close the last open-outcry trading floor in Europe and one of the last in the world. - more

      BHP Riding High on Commodities Strength - Shares in BHP remained at their current near record levels yesterday after it released an encouraging six-month sales and production report that saw the company ride the boom in commodity prices nicely. - more

      China’s 2020 crude steel output crosses 1.05 billion tonnes - As expected, China’s crude steel output had exceeded 1 billion tonnes for 2020, approximating 1.05 billion tonnes or up 5.2 per cent on year, according to the latest release by the country’s National Bureau of Statistics (NBS). - more

      Xiangyu Group's stainless steel project in Indonesia to be fully operational in 2021 - The new stainless steel production integration project with an annual capacity of 2.5 million tons invested by China's Xiangyu Group in Indonesia has reached the production target of its steel mills and ferronickel plants under the strict control of the COVID-19 epidemic. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Global Stocks Rise to Record High; Dollar Slips: Markets Wrap - more
  • Electric Cars’ Looming Recycling Problem - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, January 20

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.26/lb ($18,210/tonne). Indicators at 6:05 am CST today show nickel trading around $.03/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and started today just over the 249,700 tonne level. Nickel closed above the $18,000/tonne level for the second consecutive day and third time this month on Tuesday. At the moment it is trading slightly lower, possibly due to a US Dollar that is higher against the Euro. At the moment it is gathering support from the 10 day moving average level. The daily moving average continues to signal nickel is a strong buy. Markets continue trade based on a hope and a prayer for the future, with the change in the U.S. administration and start of covid vaccinations starting a new year. U.S. stock markets, who have literally become addicted to Federal stimulus infusions, are excited over the promise of extra stimulus dollars to come. Remember when politicians used to actually worry about the federal debt? So the question for the day could be - when this round of stimulus high wears off, what next? Stay safe and have a great hump day!
  • Average price of LME traded cash nickel so far this month - $8.04/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises on U.S. stimulus hopes, softer dollar - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3933
  • SHFE Stainless Steel  Futures -  14,320
  • ATA Truck Tonnage Index - pdf here
  • NY Fed Business Leaders Survey - more
  • Distributor's Link Magazine Winter 2021 - online here
  • Modern Casting Magazine January 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 - Aluminium down, hits 2-month low as inventories, output climb - Aluminium prices fell on Tuesday, touching their lowest in two months, as inventories and production climbed, raising fears of larger surpluses. - more

      End of an era? London Metal Exchange proposes closure of open-outcry trade - The London Metal Exchange has proposed closing Europe’s last open-outcry trading floor and moving permanently to an electronic system, cementing a change sparked by the coronavirus pandemic. - more

      Russia’s stainless steel imports hike in Jan-Nov 2020 y-o-y - According to statistics released by the Russian Special Steel and Alloys Consumers and Suppliers Association (SpetsStal Association), in the first 11 months of last year, Russia imported around 347,500 tons of stainless steel, up by 5.1% compared to the same period a year ago. - more

      Indonesia stays China's second-biggest nickel ore supplier despite export ban - Indonesia remained China’s second-biggest nickel ore supplier in 2020, Chinese customs data showed on Wednesday, despite the Southeast Asian country’s ban on exports of the material. - more

      Tanzania and Kabanga Nickel strike deal to develop nickel project - Tanzania and UK-based mining firm Kabanga Nickel Limited signed a framework agreement on Tuesday to jointly develop the Kabanga nickel project formerly owned by Barrick Gold and Glencore. - more

      Courtesy AISI - In the week ending on January 16, 2021, domestic raw steel production was 1,738,000 net tons while the capability utilization rate was 76.7 percent. Production was 1,906,000 net tons in the week ending January 16, 2020 while the capability utilization then was 82.4 percent. The current week production represents a 8.8 percent decrease from the same period in the previous year. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China tightens strategic control of rare earths - more
  • Chinese Steel Mills Hit By High And Rising Costs - more
  • Europe Stocks Rise With Futures; Dollar Declines: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, January 19

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $8.21/lb ($18,102/tonne). Indicators at 6:10 am CST today show nickel trading around $.01/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and ended that session just under the 249,100 tonne level. Nickel closed back over the $18,000 tonne level yesterday, and so far today, appears to be in a holding pattern. The Euro has bounced higher this morning, which is adding positive momentum, but in reality, its fall over the past few weeks did little to stem nickel's bullish run. US markets reopen today and based on Dow futures, traders are in a buying mood. Nickel fundamentals remain bullish. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $8.04/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper prices steady ahead of Yellen speech - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3899/lb
  • SHFE Stainless Steel  Futures -  14,210
  • NAB China’s Economy at a Glance – Jan 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

     Monday's market review - Copper rises on strong economic data from top metals buyer China - Copper prices rose on Monday after a strong economic reading from top consumer China confirmed a growth trajectory that has underpinned demand for industrial metals. - more

      Commodity bull market? 'This ship has sailed,' says Goldman's Currie  -  That's Jeffrey Currie, Goldman's head of commodities research, telling Bloomberg in a television interview (link) on Thursday why he's confident a "structural bull market" in commodities is well under way.  - more

      Steel prices reach levels not seen since 2008 - New capacity won’t affect market until late 2021, so current pricing levels may be here for a while - more

   Other News

  • Reuters The Day Ahead - pdf here
  • IMF chief sees 'high degree of uncertainty' in global outlook - more
  • Stocks, Treasury Yields Rise Before Yellen Hearing: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, January 18

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.16/lb ($17,997/tonne). Indicators at 6:15 am CST today show nickel trading around $.06/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell by one lot on Friday and ended the week around the 249,300 tonne level. Nickel closed below the $18,000 tonne level on Friday, but is trading above that level this morning. The Euro continues its slow decline against the US Dollar, having peaked on January 6th. So far, any effect this might be having on nickel, is lost in the rush. Someone from the Philippines Environmental Agency advised reporters that the mine that had been operating on the island that President Duterte ordered to stop, had actually stopped production and closed back in 2015. As a former police chief, the President has obviously learned how to politicize the old police tactic "Bang, Bang!", "Halt, police". China is releasing economic news from 2020 in drips and for the most part, the news is positive. For all practical purposes, China has recovered from the covid outbreak, and their massive reaction to small outbreaks, shows they have no intention of losing that momentum. It's a new week and we have posted lots of news, and even more economic reports below. It's the last half of the first month of 2021. Stay safe out there and have a great week.
  • Average price of LME traded cash nickel so far this month - $8.02/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises as upbeat China economic data lifts demand outlook - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3898/lb
  • SHFE Stainless Steel  Futures -  14,225
  • Modern Metals Magazine - online here
  • Global Manufacturing PMIs - pdf here
  • Industrial Production - pdf here
  • Manufacturing Production &Capacity by Major Industries - pdf here
  • PPI Metals and Metal Products: Steel Wire, Stainless Steel - more
  • PPI Metals and Metal Products: Steel Pipe and Tube, Stainless Steel - more
  • PPI Metals and Metal Products: Iron and Steel - more
  • PPI Corrugated and Solid Fiber Box Manufacturing - more
  • PPI Pulp, Paper, and Allied Products: Corrugated Paperboard - more
  • FED Manufacturers Sales - more
  • CaSteel Reporter - pdf here
  • FED U.S. Economy in a Snapshot - 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 - Copper retreats, zinc near 2-month low on coronavirus surge - Copper prices dropped on Friday and zinc touched the lowest in nearly two months as investors trimmed some of their bullish positions on the back of rising coronavirus cases around the world, threatening economic growth. - more

     Nickel Soars And Could Keep Flying As Demand Rises And Supply Falls - Demand up. Supply down. Price heading for a 10-year high. It doesn’t get much better for nickel—except for the potential to get a lot better for a metal which has a well-earned reputation for extreme highs (and lows). - more

      China 2020 aluminium output climbs to record high - China’s aluminium production in 2020 rose 4.9% from the prior year to a record 37.08 million tonnes as smelters cashed in on soaring prices, with December output hitting a monthly all-time high even as the rally cooled. - more

      No more mining operations in Tawi-Tawi’s Tumbagaan Island since 2015 – envi exec - Mining operations on Tumbagaan Island off Languyan, Tawi-Tawi which President Rodrigo Duterte during a Cabinet meeting on Monday, January 11, ordered suspended and its rehabilitation stepped, have actually stopped six years ago and has been undergoing progressive rehabilitation, an environment official in the Bangsamoro Autonomous Region in Mindanao (BARMM) said. - more

      Tension high in New Caledonia over Vale sale - There is continued high tension in New Caledonia over the planned sale of the Vale nickel plant to a new consortium Prony Resources. - more

      Indonesia’s EV battery aspirations unearth mining waste problems - By catering to the global hunger for EVs and its domestic economic growth, Indonesia risks destroying its own environment. - more

      Steel industry leaders must focus on making the industry export-centric: Dharmendra - Mumbai: Minister of Steel, Petroleum and Natural Gas, Dharmendra Pradhan on Friday said that the steel industry leaders must focus on making the industry export-centric and fulfill global requirements. - more

  • Reuters The Day Ahead - pdf here
  • There’s a Global Wall of Cash Primed to Snap Up U.S. Treasuries - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart
  • Bale Spears

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Friday, January 15

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.29/lb ($18,275/tonne). Indicators at 6:20 am CST today show nickel trading around $.08/lb lower. Stockpiles of nickel stored in LME approved warehouses fell on Thursday and started today's session just over the 249.300 tonne level. Nickel closed at its highest since 2014 yesterday. This morning, there seems to be general trading pessimism across the commodity board, with only plant based commodities trading higher. One chart we follow has the next major resistance set at $8.80/lb, with long term technical signals remaining bullish. Short term indicators are more of a reflection of what is happening at the moment, and thus, are bearish this morning. China GACC reports China exported 53.7 million tonnes of steel, a decline of 16-1/2% YOY, and imported 20.2 million tonnes, an increase of 64.4%. It's Friday, the end of the second week of January, and the half way point of the month. 4% of 2021 is already behind us. Stay safe out there, and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $8.01/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper retreats, zinc hits near 2-month low as virus cases surge - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3843/lb
  • SHFE Stainless Steel  Futures -  13,915
  • Federal Reserve Beige Book - pdf here
  • FRED Truck Tonnage - pdf here
  • Australia Mine Magazine Jan 2021 - online here
  • ISSF 2020 edition of the Book of New Applications - pdf here
  • November 2020 Freight Transportation Services Index (TSI) fell slightly - 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

     Thursday's market review - Copper rises towards 8-year highs as stimulus cheers markets - Copper prices rose on Thursday as the prospect of bigger U.S. economic stimulus lifted Wall Street stocks to record highs, but a firmer dollar and a coronavirus outbreak in China, the biggest metals consumer, threatened the rally. - more

      Column: London Metal Exchange's twilight zone absorbs stocks build - London Metal Exchange (LME) stocks of aluminium fell by 132,500 tonnes over the course of 2020. - more

      EU escalates WTO case against Indonesia over export curbs - The European Union escalated its challenge at the World Trade Organization on Thursday over Indonesia’s export ban on nickel ore by requesting the Geneva-based trade body form a panel to adjudicate on the case. - more

      Ukraine Increases Imports of Nickel Ores in 2020 -  Ukraine increased imports of nickel ores and concentrate in physical terms by 15.7% in 2020 compared to the previous year, to 1.556 million tonnes. - more

      China Iron Ore Imports Hit Record High - As we forecast late last year, China’s iron ore imports hit a record high of 1.17 billion tonnes in 2020, capping the year with a solid performance in December. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S.-China trade war has cost up to 245,000 U.S. jobs: business group study - more
  • Stocks, Yields Fall as Reflation Trade Sputters: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Thursday, January 14

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.02/lb ($17,680/tonne). Indicators at 6:10 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Wednesday and started today just under the 249,400 tonne level. Nickel ended Wednesday about a penny higher than it did Tuesday, but the bulls are back this morning .... again. The Euro and Dollar continue their sideways dance, up and down and going no where fast, which has been in place since Monday. Technicals remain mostly positive, although some show the market continues to be overbought. Industry news is light today. 36,096 people were killed on American highways and roads during all of 2019 in car crashes; the last year that the NHTSA has finalized numbers on. As of yesterday. more Americans than that have died from covid 19 in the first 13 days of 2021. The seven day average hit 3,418 deaths per day in the U.S. yesterday. 2,977 people died on 9/11. The latter united the country like no other event has in recent memory. The former continues to divide us. Why? Stay safe and have a great Thursday!
  • Average price of LME traded cash nickel so far this month - $7.99/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - London copper slips from $8,000/tonne on dollar strength - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3956
  • SHFE Stainless Steel  Futures -  13,645
  • Los Angeles/Long Beach Port Statistics - 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 supported by low inventory and demand prospects - Copper prices held steady on Wednesday as low inventories and prospects for healthy demand this year were offset by a firmer dollar and below-consensus data from top consumer China. - more

      Remote operating centers in mining: Unlocking their full potential - As the COVID-19 pandemic accelerates innovative working practices, mining companies are reimagining their operating models to provide more productive and enjoyable remote work locations for employees.  - more

      China's resumption of scrap imports seen unlikely to help costs, EAF development -  China's move to allow ferrous scrap imports to restart in January is likely to have a limited impact on domestic steelmaking costs, constrained by the lack of scrap available globally to import, market sources said Jan. 13. - more

      “Prove it First” bill could impact copper-nickel mining in Minnesota -  Lawmakers and anti-copper nickel mining groups are introducing legislation that could deal a big blow to projects like PolyMet. - more

      Surigao Norte town to allot P20-M for Covid-19 vaccines - The Surigao del Norte town of Claver would allocate PHP20 million for coronavirus disease 2019 (Covid-19) vaccines. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Seven ways to prevent tea staining of stainless steel - more
  • Treasury Yields Rise on Aid Report; Stocks Advance: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, January 13

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.01/lb ($17,650/tonne). Indicators at 6:15 am CST today show nickel trading around $.04/lb  higher. Stockpiles of nickel stored in LME licensed warehouses rose on Tuesday and ended that session just over the 249,400 tonne level. Nickel recovered all of its loss on Monday and is working to recover Friday's loss today. The market is starting to look like a classic bear trap. Dollar is higher than yesterday, but off earlier highs and trending lower. The sudden decision by the Philippine president to shut down all mining on one its smaller islands has spooked nickel traders. The Philippines has become the leading supplier of nickel ore to China since Indonesia banned the export of raw ore, and an earlier mine closure there due to a covid outbreak, helped nickel hit its highest in 2020. The impact here is expected to be far less, but with ore shipments off about 27% in 2020, any potential disruptions are looked on seriously. At the same time, otherwise reliable New Caledonia mining is facing its own difficulties. So, an already bullish market has now been handed a few potential supply disruptions to give it some actual fundamentals they can use to justify their enthusiasm. And if it doesn't, it gave us something to mention today. It's hump day, so stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.99/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Nickel prices rise on New Caledonian, Philippine supply worries - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3995
  • SHFE Stainless Steel  Futures -  13,645
  • ATA Truck Tonnage Index - pdf here
  • Global Manufacturing PMIs - pdf here
  • Fastener Distributor Index - more
  • Australia Resources and Energy Quarterly - pdf here
  • The future of the European steel industry - 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

     Tuesday's market review - Nickel prices boosted by Philippines ban for mining island - Nickel prices jumped on Tuesday after major producer the Philippines ordered a halt on mining on an island that is home to some projects. - more

      Nickel price still has possibility to continue increasing - In short term, nickel prices in the market still have the power to further go up. Currently, there are 3 main factors that sustain the nickel price. - more

      Posthaste: Why the world may be on the cusp of a new commodity super cycle - Some analysts are looking past the current ugliness of COVID-19 spread and slow vaccine rollouts across the world, and believe the trillions of dollars in fiscal stimulus, low interest rates and a global focus on climate change would trigger a new commodity super cycle. - more

      Lecornu signals bigger French role in New Caledonia's Vale - The French overseas minister Sebastien Lecornu has suggested the French state take a larger role in New Caledonia's Vale nickel, which is at the centre of a disputed sale. - more

      Canada Nickel to mull use of Glencore Ontario facility for processing - Canada Nickel has entered into an agreement with Glencore Canada to examine the potential of using Glencore's Kidd concentrator and metallurgical site in Ontario for the treatment and processing of nickel and cobalt concentrates, both companies said Jan. 11. - more

      November Steel Shipments Down 11.9% from November 2019 - The American Iron and Steel Institute (AISI) reported today that for the month of November 2020, U.S. steel mills shipped 6,753,447 net tons, a 0.1 percent increase from the 6,747,709 net tons shipped in the previous month, October 2020, and a 11.9 percent decrease from the 7,665,006 net tons shipped in November 2019. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • NAM president issues statement on Capitol violence - more
  • China's NEV production, sales rise in 2020 - more
  • How China Won Trump's Trade War And Got Americans To Foot The Bill - more
  • Dollar Climbs; Europe Stocks, Futures Fluctuate: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, January 12

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.76/lb ($17,105/tonne). Indicators at 6:10 am CST today show nickel trading around $.23/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Monday and ended the day just under the 249,200 tonne level. Nickel fell nearly $1000/tonne on Friday and Monday, and so far this morning, has recovered half of that back. While the US Dollar continues to rise against the Euro putting pressure on commodity trading, the commodity board is fairly green this morning, as investors pour back in. It's a game of Blind Man's Bluff, as bulls bet they have cleared the table of the doubters. We will have to wait and see if they were successful, and if you are a stainless steel user, you are probably hoping they aren't. In nickel, Philippine's President has ordered all mining stopped on a small island there, and Eramet is warning that if protests in New Caledonia don't stop, they may be forced to sell their operations on the island. Vale already has a mine for sale on the island, where more protests are being held daily, so it's not a good time to enter the market. This move is apparently to put pressure on New Caledonian officials to keep the protests lawful. Morgan Stanley is reportedly forecasting an average of $7.21/lb for cash nickel for 2021, with the risk to the upside, with stocks moving from surplus in 2020 to a small deficit of 18kt in 2021. It's Tuesday and if you are still vertical, you have reason enough to be positive about the day. About this time next week, the US will record its 400,000th fatality from covid. So stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.99/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper hits 1-week low as China imposes new virus curbs - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.4009/lb
  • SHFE Stainless Steel  Futures -  13,720
  • The Global Life Cycle of Stainless Steels - 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

     Monday's market review - Copper prices slide as demand fears dominate - Copper prices fell on Monday as demand concerns fuelled by surging coronavirus cases in top consumer China were reinforced by a stronger dollar and rising U.S.-China tensions. - more

      China steel futures drop as inventories climb, demand eases - Chinese steel product futures dropped on Monday, with stainless steel plunging to its lower trading limit, as inventories piled up for a second consecutive week on easing seasonal demand, while a surge in domestic COVID-19 infections also weighed. - more

      Duterte orders suspension of mining ops on Tawi-Tawi island - President Rodrigo Duterte has ordered a halt to mining activities on an island in southern Philippines, a Cabinet official said Tuesday. - more

      France's Eramet says New Caledonia unit could collapse due to mine protests -  French mining group Eramet said on Tuesday its nickel subsidiary SLN in New Caledonia risked going into liquidation within weeks if protests continued to disrupt its operations. - more

     Courtesy AISI - In the week ending on January 9, 2021, domestic raw steel production was 1,709,000 net tons while the capability utilization rate was 75.4 percent. Production was 1,906,000 net tons in the week ending January 9, 2020 while the capability utilization then was 82.4 percent. The current week production represents a 10.3 percent decrease from the same period in the previous year. Production for the week ending January 9, 2021 is up 3.6 percent from the previous week ending January 2, 2021 when production was 1,650,000 net tons and the rate of capability utilization was 74.6 percent. - more

      U.S. steel groups, union urge Biden to keep Trump's steel tariffs in place - Steel industry and union groups on Monday urged President-elect Joe Biden to keep in place the 25% national security tariffs on steel imports imposed in 2018 by his predecessor, arguing they are essential to ensure the viability of domestic steel production. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks, U.S. Futures Churn Higher; Dollar Steadies: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, January 11

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Friday's trading session at $8.02/lb ($17,670/tonne). Indicators at 6:10 am CST today show nickel trading around $.15/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Friday and started the week just over the 248,800 tonne level. Nickel fell hard on Friday, closing below the $18,000/tonne level, and is down again today, trading well below the $17,400/tonne level this morning. The US Dollar has risen over the past two trading sessions, and while this is adding negative pressure on London traded commodities, this alone does not account for nickel's sudden stampede backwards. Market sentiment has suddenly turned bearish, and no one item appears to have triggered the sudden exit, anymore than any one item kept the bull charging forward. At the moment, nickel is trading at a 2021 low, but it remains to be seen if this is more than a short term bump, or should we say, dip in the road. China sources are reporting steel and stainless steel inventories grew last week in that country, on weakened demand. It was reported on Friday that the Ambatovy mine in Madagascar will reopen in early March, after being on care and maintenance since March of 2020. In Canada, Local 598 members gave their Union officials a strike mandate on Thursday, should contract negotiations with Glencore at the Nickel Rim mine fail. The two parties successfully reached a 4 year contract negotiation in 2017, without a strike, when nickel was trading for almost half what it is this month. It's a new week, and while traders might be starting it in a foul mood, there is no reason the rest of us must follow like sheep. The world has introduced itself to you and is playing hard to get. Now it's up to you. Hide in the corner and hope she will find you, and you will have the same success as the shy kid at the high school dance. You don't go fishing with the hope of catching the smallest fish, so target the big potential this week, work out a strategy which can be changed on a dime, and start casting your line with some reasoning beyond mere hopes. Stay safe out there, have a great day, and good luck this week.
  • Average price of LME traded cash nickel so far this month - $8.02/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Industrial metals decline on rising coronavirus cases in China - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.4001/lb
  • SHFE Stainless Steel  Futures - 13,695
  • ATA Truck Tonnage Index - pdf here
  • United States Imports of Nickel - more
  • U S Imports For Consumption Of Stainless Steel Products - more
  • Global economy expected to expand by 4 per cent in 2021: World Bank - 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 - Copper slips from 2013 peak as U.S. stimulus doubts grow - Copper eased from close to eight-year highs on Friday as doubts grew over how much infrastructure stimulus the incoming U.S. administration will be able to deliver. - more

     Global stainless steel consumption expected to grow by 11% in 2021 - China currently has around 3 million tons of stainless steel scrap available per year, which is growing at a rate of at least 10%. - more

     Wall Street Is the Most Bullish on Commodities in a Decade - Commodity investors are back in full force, with record wagers that crops, metals and oil are set for a rally. - more

      New proposal mooted in New Caledonia nickel plant sale - The president of New Caledonia's Southern Province has made a fresh suggestion on how to structure a purchase of the Vale nickel plant. - more

      U.S. exports of Stainless steel wire decreased 12.00 percent from $125.91 million to $110.81 million through the first 11 months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more

  •  U.S. imports of Stainless steel wire decreased 26.01 percent from $180.69 million to $133.69 million through the first 11 months of 2020 when compared to the same period the previous year, according to WorldCity analysis of the latest U.S. Census Bureau data. - more
  •  U.S. exports of Stainless steel, not less than 600mm wide decreased 31.89 percent from $753.4 million to $513.16 million through the first 11 months of 2020... - more
  •  U.S. imports of Stainless steel, not less than 600mm wide decreased 20.74 percent from $554.81 million to $439.73 million through the first 11 months of 2020 .... - more
  •  U.S. imports of Nickel decreased 10.41 percent from $1.26 billion to $1.13 billion through the first 11 months of 2020 ... - more
  •  U.S. exports of Nickel decreased 30.02 percent from $252.69 million to $176.84 million through the first 11 months of 2020 ... - more
     Volkswagen partner Gotion unveils breakthrough EV battery - Volkswagen’s battery partner Gotion High-Tech revealed a new battery cell which it said may significantly reduce the cost of electric vehicles and ease concerns over battery safety. - more

      Guatemala’s ex-mine security chief jailed for murdering indigenous leader - Mynor Padilla pleaded guilty to the 2009 death of firms suspected of a litany of crimes in Central America by Adolfo IchMining. - more

      Fastener Distributor Index Ends 2020 at Highest Mark in 30 Months - Sales, employment and pricing all had major month-to-month gains, while the six-month outlook also continued its rise. - more

  • More Coronavirus Relief on the Way for Small Businesses - more

   Other News

  • Reuters The Day Ahead - pdf here
  • China’s Trade Attack On Australia Is Producing Perverse Results - more
  • Trump moves to loosen mining regulations, approve projects as he exits - more
  • Dollar Rises as Stocks, U.S. Futures Retreat: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Friday, January 8

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $8.19/lb ($18,060/tonne). Indicators at 7:00 am CST today show nickel trading around $.06/lb lower. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and ended that session just over the 249,000 tonne level. Nickel closed Thursday's session at it highest since August 2014. While it is trading back below the $18,000/tonne level this morning, we are still witnessing trading happening at levels not seen in over six years. Even without the $17,900/tonne level adding major resistance, the $18,000/tonne level offers a psychologically important line of resistance, so if nickel is successful in breaking thru these two lines aggressively, then 'Katy bar the door'. This bull could grow wings in a hurry. We don't see that happening, but this bull market appears to have begun feeding on itself and there is not telling when reality might strike. If you have stainless steel scrap taking up room, and didn't dump it before the end of last year, the sudden spike in price is worth watching. Mysteel China is reporting that China’s crude stainless steel production increased in December to 2.8 million tonnes, up 0.6% MOM. and 15.5% YOY. China media is also reporting they have locked down another city [Shijiazhuang] of 11 million residents, after total covid cases in that city increased to 123, in what health officials there are calling an outbreak. China is reporting a grand total of 87,278 confirmed cases of covid since the outbreak began over a year ago, with a total of 4,634 deaths over that same period. In comparison, the U.S. saw 274,190 new cases on Thursday alone, with 4,134 more Americans dieing on that day. Markets are betting 2021 will be a great year. Let's hope they are right, because the first week started, shall we say, a tad rocky here in the States. Stay safe out there, and have a great weekend!
  • Average price of LME traded cash nickel so far this month - $8.00/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai copper hits 9-year high, London prices at highest since 2013 - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.4201/lb
  • SHFE Stainless Steel  Futures -  14,380
  • ATA Truck Tonnage Index - pdf here
  • November 2020 Trade Gap is $68.1 Billion - more
  • U.S. International Trade in Goods and Services - pdf here
  • U.S. Imports for Consumption of Steel Products Nov 2020 full report - 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 jumps to 2013 peak on Biden infrastructure, stimulus hopes - Copper prices hit their highest levels since 2013 on Thursday for a third straight day, driven by expectations of infrastructure spending by incoming U.S. President Joe Biden after his party won control of the Senate. - more

      Ferrochrome price announcement for the first quarter of 2021 - Shareholders of the Company are advised that the European benchmark ferrochrome price for the first quarter of 2021 has been settled at 117.5 US cents per pound, a 3.1% increase from the fourth quarter of 2020. - source

      Zimbabwe’s Kuvimba Seeks $1 Billion for 2021 Acquisitions, Capex - A mining company majority owned by the Zimbabwe government and whose profits will partly be used to compensate former white commercial farmers for land confiscated two decades ago intends to raise $1 billion for acquisitions and capital expenditure. - more

    How Many Electric Cars Are Built / Sold Each Minute By Brand? - Needless to say, Tesla takes the prize for selling the most EVs.  - more
  • Here Is How The End Of Gas And Diesel Cars Might Look Like - more
  • Toyota and BHP Create an EV Series 70 Land Cruiser to Work the Mines Down Under - more

      Is an Amazon-like metal fabricator possible? - How did 2020, the worst year in recent memory, change us? No doubt, once a vaccine becomes widely available, we’ll gradually return to the world of face-to-face interaction with new appreciation. - more

      Clogged port chokes off Chile's steel imports - Steel fabricators in Chile are in danger of running out of steel after a bureaucratic mix-up clogged one of the country's main ports, an industry body said Jan. 7. - more

   Other News

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Thursday, January 7

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Wednesday's trading session at $8.07/lb ($17,785/tonne). Indicators at 6:10 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Wednesday and started today just under the 248,700 tonne level. Nickel has already traded at its highest since 2014 this morning, has retreated, and is in the process of trying again at the moment. Earlier in today's session, nickel nearly hit the $18,200 tonne level. The Euro is trading lower this morning, so the commodity board, including base metals, are showing a lot more red than green. But so far, nickel traders have a seven year high firmly within grasp and are showing every intention of seizing it. Two other prices we follow daily below in the Report section spiked higher. The SHFE futures price puts stainless steel back to where it was trading last October. We are not seeing any figures coming out of China that reflect increased demand there yet, so we suspect this is mostly reflective of the increase in nickel. After two shortened work weeks due to holiday breaks, it's Thursday in what may seem like a very long week. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.96/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper hovers near 8-year high on U.S. stimulus hopes - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3742/lb (+$.071)
  • SHFE Stainless Steel  Futures -  14,525 (+705)
  • Global Manufacturing PMIs - pdf here
  • Manufacturers' Shipments, Inventories, and Orders - pdf here
  • Durable Goods Orders & 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

     Wednesday's market review - Copper hits 8-year high on stimulus hopes, supply fears - Copper prices reached their highest since February 2013 on Wednesday as Democrats who want increased economic stimulus edged closer to control of the U.S. Senate and a blockade threatened to halt operations at a major mine in Peru. - more

      China stainless steel soars 5% on higher raw material costs, tight supply - China’s stainless steel futures leapt 5% on Thursday as the metal used in vehicles and cookware extended gains driven by higher cost of feedstock nickel and tight supply. - more

      Aperam raises European stainless steel alloy surcharges for Jan - Aperam, a stainless steel manufacturer based in Luxembourg, raised its alloy surcharge for European austenitic stainless steel by nearly EUR 100/ton for January. - more

      US steel market sentiment remains bullish: Platts survey  - Bullish sentiment was expected to persist in January in the US steel market, according to the monthly survey of the market by S&P Global Platts, with most participants expecting higher steel and raw material prices in coming weeks, as well as increased production, but unchanged inventory levels on average. - more

      Iron ore price surge end-2020 fails to deter build in port stocks -  Iron ore prices rose by more than 70% in 2020, but this failed to have put a dent on iron ore stocks held at Chinese ports, which ended the year at almost the same level it had started the year. - more

      AISI Releases December SIMA Imports Data - Based on the Commerce Department’s most recent Steel Import Monitoring and Analysis (SIMA) data, the American Iron and Steel Institute (AISI) reported today that steel import permit applications for the month of December totaled 2,071,000 net tons (NT). - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Stocks Extend Gains as Investors Focus on Stimulus: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Wednesday, January 6

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Tuesday's trading session at $8.03/lb ($17,715/tonne). Indicators at 6:10 am CST today show nickel trading around $.08/lb higher. Stockpiles of nickel stored in LME licensed warehouse rose on Tuesday and started today just under the 248,400 tonne level. Nickel traders appear to want to test the $17,900 tonne level again, and yesterday's close puts them closer than they got last month. This level is important as it is the highest nickel has traded since 2014. It reached this level on August 1st of 2019, ending a bullish run that had begun on May 1st of that year, and starting a bear market that wouldn't end until March 1st of last year. We are currently in the eleventh month of the current nickel bull market. And yes, if you were wondering, many of the major shifts from a bull to bear or bear to bull market begin/end on the first of a calendar month. This may apply to commodities in general, but we only watch nickel on a daily basis.  The US Dollar is weaker this morning and is adding some positive momentum to metals, although for the time being at least, traders appear to be in a buying mood and don't appear to care what the Euro is doing. We rarely cover this as it could warrant its own daily news site, but Saudi Arabia's decision to cut oil production for the remainder of the first quarter, has driven oil prices higher, so not only will you see more price increases at the pump, but freight fuel surcharge increases are likely as well. Industry news remains on the slow side, and mostly about nickel mines. The EV industry is buzzing about leaked photos of a new car to be introduced at a car show in China. While the media will want to make a China company versus Tesla situation out of any new car introduced there, we look to any new innovation that makes an EV more attractive to the general public and thus, increasing interest and sales, will be seen as a positive by the nickel industry, and uncharted waters for stainless steel producers. It's the first hump day of 2021, with only 51 more to go. Stay safe out there and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.91/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Shanghai stainless steel extends rally on firm demand, nickel's surge - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3032/lb
  • SHFE Stainless Steel  Futures -  13,820
  • U.S. Manufacturing PMI Full Report - more
  • Recycling Today Jan 2021 - online here
  • U.S. Steel Import Monitor - more
  • Harmonized System (HS) Code Search - 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 - Lower dollar, inventories propel copper towards 8-year peak -  Copper prices climbed towards eight-year highs on Tuesday as a weaker dollar, expectations of robust demand in top consumer China and falling inventories spurred purchases. - more

      Conic Releases Ramu 2020 Production Update - Conic Metals Corp., one of Canada’s only pure-play nickel and cobalt producers, is pleased to provide an update on the production results from the Ramu Nickel-Cobalt mine in Papua New Guinea. Conic owns an 8.56% joint-venture interest in Ramu which is operated by the Metallurgical Corporation of China - more

      Zimbabwe: BNC Revenue Down U.S.$3.3 Million Amid Sales Volume Decline - Bindura Nickel Corporation revenue has gone down by US$3.3 million on the backdrop of reduced sales volumes owing to internal strategic arrangements. - more

      US Factories Grow at Fastest Pace Since Mid-2018 - American factories grew in December at the fastest pace in more than two years as manufacturing continued to weather the pandemic better than the battered services sector. - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Treasury Yields Reach 1%; Nasdaq Futures Tumble: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Tuesday, January 5

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Monday's trading session at $7.90/lb ($17,420/tonne). Indicators at 6:05 am CST today show nickel trading around $.05/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell slightly on Monday and started today reading just over the 247,900 tonne level.  The commodity board continues to show mostly green this morning, and nickel, along with all base metals, shows no sign of weakness.  The Euro is off morning lows, but is lower than yesterday's highs, so it it doubtful today's weakness in the Dollar is helping much. For 2020, nickel stockpiles held in LME approved warehouses started the year at 150,690 tonnes and finished at 246,708 tonnes. It's Tuesday. Stay safe and have a great day!
  • Average price of LME traded cash nickel so far this month - $7.87/lb
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Lower dollar, inventories propel copper towards 8-year peak - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3067/lb
  • SHFE Stainless Steel  Futures -  13,720
  • Global Manufacturing PMIs - 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

     Monday's market review - Worry about Indonesian supplies fuel nickel's surge - Nickel prices surged to two-week highs on Monday as concern about supplies surfaced after an earthquake in Indonesia, while base metals overall were boosted by a weaker dollar and robust manufacturing activity in China and Europe. - more

      Could steel prices soon hit $1,000/ton in the new year? - Flat-rolled steel prices finished 2020 on an incredible high—a seemingly impossible recovery from the incredible low seen in the spring when the coronavirus sickened the U.S. economy. - more

  • Commodities 2021: US ferrous scrap market 2021 outlook optimistic following uncertain 2020 - more
  • Iron ore prices to ease: Trading Economics - more

      What Joe Biden’s Cabinet picks mean for northern Minnesota’s Twin Metals mining project -  The President-elect has named Tom Vilsack to be secretary of agriculture and U.S. Rep. Deb Haaland to lead the Interior Department. - more

    Tesla’s Record Sales Drive A Battery Metals Revival - Tesla’s success in selling almost 500,000 electric vehicles (EVs) in 2020 has reignited investor interest in companies producing battery-making metals, such as lithium, with some miners starting to outperform the car maker on the stock market. - more

      Courtesy AISI - In the week ending on January 2, 2021, domestic raw steel production was 1,650,000 net tons while the capability utilization rate was 74.6 percent. Production was 1,841,000 net tons in the week ending January 2, 2020 while the capability utilization then was 80.1 percent.  - more

   Other News

  • Reuters The Day Ahead - pdf here
  • U.S. Futures Edge Higher as Dollar, Bonds Drop: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more

Monday, January 4

LME nickel prices  Daily Nickel/Stainless Steel Briefing 

  • Nickel closed Thursday's trading session at $7.56/lb ($16,675/tonne). Indicators at 6:10 am CST today show nickel trading around $.32/lb higher. Stockpiles of nickel stored in LME licensed warehouses rose on Thursday and started the new year just under the 248,000 tonne level. Nickel is way up this morning, with news of a large earthquake on central Sulawesi Island, Indonesia overnight. This is a very active earthquake and volcano region of the world, so unless local mines have sent word of infrastructure or facility damage, this 5.0 earthquake would be larger than normal, but normal nevertheless. Indonesia business media that we watch, have yet to even mention it. The U.S Dollar is lower against the Euro this morning, and the commodity board is a sea of green, as investors start a new year with enthusiasm and bet on a brighter future. It's a new week, a new month, and a new year.  Hope for a brighter tomorrow is alive and well, and if you can't find anything about 2021 to be optimistic about, today is the day to find it. Many of you have already set goals for 2021, but if you haven't yet, it's time. 2021 offers every one of us 'unlimited potential'. It's up to us to go get it. So - go get it! We thank you for starting this new year with us, and thank our new sponsors for their support. We leave you with this thought for the new year. No matter how bad 2020 was for you, or how good 2020 was for you, it is now 2021. That means, at least here in most of the U.S., the 21st century is now 21 years old and old enough to legally drink. God help us all. Stay safe and have a wonderful day, week, month, and year!
  • Average price of LME traded cash nickel so far this month - 
  • LME nickel chart - here   /   Euro/US Dollar chart - here

  Reports

  • Reuters metals morning - Copper rises on weak U.S. dollar, upbeat broader markets - more
  • Refinitiv Inside Commodities - pdf here
  • ING The Commodities Feed - daily here
  • SMM Evening Comments - here
  • Barchart 304 Stainless Steel Scrap Index - $.3016/lb
  • SHFE Stainless Steel  Futures -  13,600

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 - Top LME performer copper dips on hazy new year outlook - Copper fell on Thursday with investors wary about the scope for further gains in 2021 after it outperformed other industrial metals this year as China rebounded from the COVID-19 pandemic. - more

      Worry about Indonesian supplies fuel nickel's surge - Nickel prices surged to two-week highs on Monday as concern about supplies surfaced after an earthquake in Indonesia, while base metals overall were boosted by a weaker dollar and robust manufacturing activity in China and Europe. - more

      China's stainless steel exports & imports to continue rising in Dec - According to statistics, China’s stainless steel exports totaled around 347,000 tons in November, up by 32% compared to the previous month and also rising by 6% from the same month a year ago. - more

      China's GEM seeks to double stake, take control of Indonesia nickel project - Chinese electric vehicle battery firm GEM Co Ltd said on Monday it aims to double its stake in an Indonesian nickel project, becoming the majority investor to strengthen “strategic control” of the resources amid a nickel shortage. - more

      China iron ore surges over 50% in 2020, up for second straight year - Chinese iron ore futures advanced on the last trading day of 2020 to log a 54% jump this year, their second straight annual gain, supported by supply concerns and China’s robust steel demand despite the coronavirus pandemic-led disruption. - more

  • China must reduce steel output in 2021, says industry minister - more

   Other News

  • Reuters The Day Ahead - pdf here
  • Volatile markets end 2020 strong with vaccines, stimulus in sight - more
  • European Stocks Rise With U.S. Futures; Gold Jumps: Markets Wrap - more

  Morning Nickel Prices

  • Yesterday's LME official prices here 
  • Shanghai Jinchuan nickel price -  here 
  • India MCX Nickel Price - more
  • Baltic Dry Index - chart

Virus News and Numbers

Coronavirus By The Numbers - here
US Fed MN Covid Economic Dashboard - more
US Fed NY Weekly Economic Index - more
Resurgence - how is your state faring? - more


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(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.



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