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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices


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Nickel Prices and Stainless Steel Market




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Monday, July 15

stainless steel price  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed yesterday's trading session at $6.11/lb price of stainless steel. Indicators at 6:15 am CST today show nickel trading around $.01/lb  lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and Friday and started the week just over the 150,300 tonne level. We expect the inventory level to fall below the 150,000 tonne level this week, which we would have expected to send a shock wave of bullish sentiment thru the market - but that's a mute point now. For the first half of July the rate of decline in LME nickel stockpiles have been an average of 1,418 tonnes per day. At that rate, if it were to continue, the nickel stockpiles would be depleted in 106 business days - or 21 weeks. There is no reason to believe this level of depletion will continue at this rate, but once again, we are reminded how little inventory there is out there - and we are in the typically slow months for nickel demand. Signals out of China are mixed. Some really want the Trump tariffs to be biting so their analysis is skewed. Others want exactly the opposite to be true. It's hard to figure out what is really going on in China when all analysts agree, but now politics is making that chore harder.  The market is taking a breath this morning and is only $200/tonne from reaching its high for the year, and about $550/tonne south of a new 12 month high. At this point, anyone trying to predict where the market is going is simply taking a shot in the dark. Downstream users of nickel, including stainless steel and EV battery producers, are guaranteed higher prices in the near future - if they aren't already getting bit.  It's a new week - may it be a successful one for you.
  • Average price of cash nickel so far this month -  $5.68/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Shanghai nickel hits 10-1/2-month high on Indonesian supply concerns - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China’s Growth Slides to Weakest Pace in Almost Three Decades - more
  • China Sets Commodities Records in Good Sign for Growth - more
  • Stocks Trade Mixed Before Earnings, Fed Speakers: Markets Wrap - more

     Yesterday's market review - Nickel hits four-month peak on Indonesia concerns - Nickel prices touched their highest in four months on Friday on worries that major producer Indonesia will resume an export ban on ore in 2022. - more

      EV slowdown, nickel price rally to dent demand for refined nickel - The Chinese energy vehicle sector’s demand for refined nickel is expected to reduce a maximum of 14,000 mt in Ni content in the second half of this year, in anticipation of a slowdown in consumption of EV battery materials in the third quarter after the government significantly scaled back subsidies to the sector. - more

      China iron ore, coke rise on demand outlook; steel rebounds - China’s iron ore and coke prices rose on Monday on expectations of an increase in demand for both steelmaking inputs, while steel futures rebounded from three-week lows touched earlier in the session. - more

      Panoramic faces ongoing hurdles in Savannah ramp up - Panoramic Resources’ ramp up of the Savannah nickel project in Western Australia has progressed well during the June quarter, despite not yet reaching its budget rates. - more

      South African Billionaire Patrice Motsepe And Norilsk Nickel To Shut Down Nkomati Mine - South African billionaire Patrice Motsepe is shutting down a struggling mining asset his African Rainbow Minerals co-owns with Norilsk Nickel of Russia. - more

  • Nkomati nickel mine closure could cost thousands their jobs - more
      Clive Palmer liquidation trial already delayed - It took 1179 days, three judges and countless adjournments to get Clive Palmer into court for a trial over the collapse of Queensland Nickel and already it has been delayed. - more

  Morning Nickel Price Statistics & Figures

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


Thursday, July 11

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed yesterday's trading session at $5.89/lb a. Indicators at 6:20 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just over the 153,400 tonne level. The bull run continues and every reason you can think up for why, applied to the market in March, when the last bull run soured. If you like running with the bulls, there is money to be made. When the bull stops, and you don't, you will find out why is a risky proposition. Please notice we have updated our average price of LME traded nickel line to include the first half of 2019. As you can see, the average price of cash nickel dropped from 2018. Sales of EV for June came in at an estimated 37,800, which compares to 25,000 last year. This the best sales month this year as well as the largest increase in sales from last year. Worldwide sales thru May, show an estimated increase from 159,300 to 179,300 vehicles. Nickel is trading over the $13,000 tonne level for the first time since April, and while overbought, it does not appear traders have any intention of slowing down. This is our final update for the week. We thank you for bearing with us as we suffered a computer crisis last week, and hopefully, things appear to be slowly getting back to normal. Enjoy your weekend and we invite you to join us next week.
  • Average price of cash nickel so far this month - $5.62/lb
  • Average price of LME traded nickel in first half of 2019 - $5.59/lb / 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb /

  Reports

  • Reuters metals morning - Copper rises on weaker dollar amid dovish Fed comments - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Did the Value of a College Degree Decline during the Great Recession? - more
  • Mining Asteroids for Metal Powders and Alloys - more
  • Stocks and Bonds Advance as Rate-Cut Bets Gather Steam - more

     Yesterday's market review - Base metals head higher on hopes of trade deal, U.S. rate cut -  Industrial metals prices rose sharply on Wednesday after U.S. and Chinese negotiators opened a new round of trade talks and Federal Reserve Chairman Jerome Powell bolstered expectations of a U.S. interest rate cut later this month.  - more

r      Stainless Steel Production decreases by 2 5 to 12 5 Million Tons in the first three Months of 2019 - Brussels 09 July 2019 – The International Stainless Steel Forum (ISSF) has released figures for the first three months of 2019 showing that stainless steel melt shop production decreased by 2.5% year–on–year to 12.5 million metric tons. - more

s      Trade war fatigue saps global base metals activity: Andy Home - The base metal markets are suffering from trade war fatigue. - more

t      Indonesia’s ore export ban to boost NPI exports - Nickel pig iron is expected to replace nickel ore as major raw materials that are exported from Indonesia to China for nickel and stainless steel production, as Indonesia will stop mineral exports in 2022. - more

c      Dates for Sudbury inquest into Lockerby Mine deaths set - A date for the inquest of two men killed at a Sudbury mine five years ago has been set. - more


  Morning Nickel Price Statistics & Figures

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


Wednesday, July 10

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $5.76/lb price of stainless. Indicators at 6:20 am CST today show nickel trading around $.08/lb w higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session just over the 153,600 tonne level. Since you are running with the nickel bulls in London, have you escaped getting gored yet? The run continues and if you aren't trying to get out of the way, you had better be trying to outrun them. If you are standing still ..... well, that can be rather dangerous. The bears are on the sidelines watching for their moment, which at the moment, does not appear to be in the immediate future. Stainless steel prices are heading north thanks to this bullish run, and depending on how high it goes, or long it lasts, will determine how big a bite it will take. Nickel is now trading as high as it was in mid April, with about $750 tonne separating it from a new 2019 high. You are better off not trying to understand what is going on. Nothing magically changed a month ago, when prices apparently bottomed out for the summer. This daily news site has been running for over 10 years and we have seen this happen many times before. Depending on what part of the supply chain you rest, higher nickel prices can be good news - or not so good news. Downstream users, like stainless steel producers and users, will see their cost increase - that's a given. This means your stainless steel inventory is worth more today than it was yesterday, ad those who react accordingly, will benefit. If you don't, you set yourself to loose twice - once as prices go up, and again, as prices drop and your over priced inventory takes up space. So - it's time to run with the bulls, or take a seat on the sidelines.
  • Average price of cash nickel so far this month - $5.59/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Base metals rise on trade talk hopes, nickel at 3-month high - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • Bonds Fall, Stocks Drop Ahead of Powell Testimony: Markets Wrap - more

     Tuesday's market review - Copper extends losses as markets await firm U.S.-China deal - Copper fell to a three-week low on Tuesday even as talks resumed between the United States and China in an effort to resolve the long-running dispute that has sapped metals demand.  - more

price of stainless      Russia: metal imports down in January-May 2019 - In January-May Russia’s imports totaled $94.5 billion, down by 1.5% YoY. - more

  Morning Nickel Price Statistics & Figures

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


Tuesday, July 9



  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed yesterday's trading session at $5.77/lb price of stainless steel. Indicators at 6:20 am CST today show nickel trading around $.03/lb q lower. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just over the 154,100 tonne level. Nickel prices continue to rise, although we still have quite a way to go before we see a new annual high. Still finding no real reason for this bullish run. Inventories are a concern again, and the 150,000 tonne level could be psychologically important. The inventory situation has been a story for months though, so not sure what triggered things to change the last week of June. Still learning a new program here so please bear with us.
  • Average price of cash nickel so far this month - $5.57/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Copper extends declines on bearish China demand - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • U.S. Futures, Europe Stocks Slide; Treasuries Dip: Markets Wrap - more
  • Positive Indian Ocean Dipole likely to be dominant Australian climate influence - more

     Yesterday's market review - Copper slides as focus shifts to U.S.-China trade dispute - Copper prices slipped on Monday as sentiment was dominated by the protracted U.S.-China trade dispute and subsequent damage to global growth and demand, and a stronger dollar. - more

d       Chinese stainless steel output up in Jun y-o-y - According to the statistics, Chinese stainless steel output was around 2.34 million tons in June, down by 2.34% month on month, up by 23.73% year on year. - more

stainless steel       Philippines sets second round of mining industry audit - The Philippines’ Mining Industry Coordinating Council (MICC) will undertake the second round of its “objective, science-based, and fact-finding” audit of local mining operations starting in the last week of July, Finance Undersecretary Bayani Agabin said on Tuesday. - more

nickel       Arctic’s biggest air-polluter distributes $3,7 billion in 2018 cash dividends to owners - The annual General Meeting of Shareholders in Norilsk Nickel approved the final dividends for 2018 at 792,52 rubles ($12,25) per ordinary share, in total about $1,9 billion. This comes in addition to the interim dividends of $1,8 billion already set aside for the first six months of 2018. - more

price of nickel       Courtesy AISI - In the week ending on July 6, 2019, domestic raw steel production was 1,847,000 net tons while the capability utilization rate was 79.4 percent. Production was 1,815,000 net tons in the week ending July 6, 2018 while the capability utilization then was 77.4 percent. The current week production represents an 1.8 percent increase from the same period in the previous year. Production for the week ending July 6, 2019 is down 0.2 percent from the previous week ending June 29, 2019 when production was 1,851,000 net tons and the rate of capability utilization was 79.5 percent. - more

  Morning Nickel Price Statistics & Figures

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


Monday, July 8



  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $5.66/lb  . Indicators at 6:25 am CST today show nickel trading around $.05/lb higher. Stockpiles of nickel stored in LME licensed warehouses have returned to the loss column for the year and start the week just over the 154,700 tonne level. Nickel looked like it might lose all the gains it made the last week of June, but has recovered and the market is closing in on its June 28th high. Still no real reason for this bullish bump, but there rarely is since fundamentals came to mean so little in the trading world. We are struggling to get back up to 100% and right now we are learning a new computer and trying to recover a bunch of lost links we check daily. We apologize for the difficulty and hope to get back on track soon.
  • Average price of cash nickel so far this month - $5.55/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - Copper gains limited by prolonged U.S.-China trade dispute - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • What Just Happened Also Occurred Before The Last 7 U.S. Recessions. - more
  • U.S. Futures, Europe Stocks Struggle; Gold Climbs: Markets Wrap - more

     Friday's market review - Copper under dollar pressure as the metal has biggest weekly fall since May - Copper fell on Friday and logged its biggest weekly fall since May as the dollar hit an over two-week high and inventories in London Metal Exchange (LME) warehouses rose. - more

      U.N. deep sea mining body rejects Greenpeace criticism - The International Seabed Authority (ISA) has rejected criticism from Greenpeace over its handling of ocean mining, fuelling a spat that threatens to overshadow talks this month by the U.N. body towards rules for deep sea mining. - more

     U.S., Europe increasingly anxious about shortage of battery materials, supplier says - Key players in battery production including automakers and trading houses from North America to Europe are becoming increasingly concerned about future shortages of key materials needed for electric vehicle batteries as production soars, according to an Australian supplier. - more

  Morning Nickel Price Statistics & Figures

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


Monday, July 1



  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $5.76/lb . Indicators at 6:20 am CST today show nickel trading around $.13/lb lower. Stockpiles of nickel stored in ME licensed warehouses fell on Thursday and Friday and end the month of June just under the 161,700 tonne level. For the month of June, and for the first time since August 2017, LME nickel stockpile numbers grew, and averaged a net gain of 129 tonnes per day. The last week and a half of the month, the market saw declines resuming, but not enough to offset earlier gains. It will be interesting to see if we see a similar outcome this month. We would have bet money last week that the average price of nickel could not get back to the $12,000 tonne level for June and if we had made such a bet, it would been a heart stopping last few days. The average ended just $30 tonne shy but  this would due to a remarkable jump in the trading price on Thursday, followed by a steady Friday. For those who believe the market can be manipulated, the decline today would appear to verify a theory that last weeks sudden jump was little more than 'cooking the books'. Nickel closed the last day of 2018 at $10,690 tonne. It had fallen back to $11,620 tonne earlier in June and started last week at $12,190. This solidified the claim that nickel was the largest gainer in the base metals market for the first half of 2019, but that whole fall from $13,799 tonne since March was overhanging an otherwise rosy picture. A unexplainable spike to $12,710 could help those presentation numbers. Today we start the second half of the year, and its anyone's guess where it will go. One would like to think that the US and Chinese will reach some sort of trade agreement and this weight will be lifted from the future. But if they do that will be in the future because for the time, they have agreed to talk again, something the President tweeted earlier last week. US markets will be closed Thursday for Independence Day celebration. Have a great week!
  • Average price of cash nickel so far this month - $5.43/lb
  • Average price of LME traded nickel in in 2018 - $5.95/lb / 2017 - $4.73/lb / 2016 - $4.36/lb / 2015 - $5.37/lb /

  Reports

  • Reuters metals morning - LME copper touches 6-week peak on U.S.-China trade truce - more
  • Reuters Daily Inside Metals - pdf here
  • SMM Evening Comments - more

  Commodity/Economic Comments

  • China Stainless Steel Scrap Market News / Price - more
  • Scotiabank Reports - more
  • Baltic Dry Index - (chart)
  • Stainless steel: The role of nickel - here
  • Alloyed for Lasting Value video - here
  • Self Repairing for Lasting Value video - here
  • China steel output, prices rise in May - more
  • Stocks Climb Globally on Trade Truce; Oil Jumps: Markets Wrap - more

     Friday's market review - Copper under pressure, has largest quarterly fall since 2015 - Copper prices were steady on Friday ahead of a meeting of G20 leaders but recorded their worst quarterly performance since 2015 due to the protracted U.S.-China trade dispute which has undermined growth and demand. - more

      Nickel Monthly News For The Month Of June 2019 - Nickel spot prices were flat in June, and the LME inventory was also flat and remains at a 7-year low. - more

      Taiwanese stainless steel wire rod imports down, exports up in May m-o-m - According to the statistics from Taiwan Customs, Taiwan imported a total of around 1,400 tons of stainless steel wire rod in May, dropping by 33% compared to the previous month. - more

      The Dangers Of Transporting Nickel Ore Cargoes – A Timely Reminder - Your Managers are very grateful to Pandiman Philippines Inc., the Club’s correspondents in Manila, who have provided the following reminder of the hazards associated with the carriage of nickel ore, as the seasonal export of this dangerous cargo from the Philippines gets underway. - more

      Stainless Steel Technology Race in East Asia Intensifies - Since the birth of Chinese-Indonesian ITSS (PT Indonesia Tsingshan Stainless Steel), the technological race among major stainless steel (SST) makers in East Asia has intensified. - more

  Morning Nickel Price Statistics & Figures

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





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