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LME nickel prices and news

Stainless Steel News and Nickel Prices

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Daily Nickel Market News & Stainless Steel Prices


Nickel Prices and Stainless Steel Market




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Wednesday, July 31
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $6.51/lb . Indicators at 6:20 am CST today show nickel trading around $.01/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today's session, just over the 143,600 tonne level. Yesterday was a 'nothing happened' day for LME nickel, with stockpiles the prior day not moving, and with yesterday' closing doing much the same. Today, the holding pattern continues with a mother load of economic data flooding the markets. Today the US Fed is expected to cut their interest rate today, for the first time in a decade. The market expects it, and has been beating on it for a week. Rate cuts are made to either calm down weary markets, or juice the economy. Neither of these seem necessary at the moment, so we will be interested in reading the reasoning behind this move later today.  The Euro is trading near its low for the year against the US Dollar. PMI's are being published over the  next days and we will get a better idea of what the trade war is doing to the world economies. Speaking of the trade war, talks have apparently ended in Shanghai and apparently went as well as talks with North Korea have gone recently. 
  • Average price of LME traded cash nickel so far this month - $6.09/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 - London copper steady ahead of expected Fed interest rate cut - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • RBC Commodity Price Monitor - pdf here

  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, U.S. Conclude Shanghai Talks Without Signaling Progress - more
  • Stocks Mixed as Trade Talks Wrap Up; Dollar Steady: Markets Wrap - more

     Tuesday's market review - Lead prices slip on rising stockpiles and weak factory output - Lead prices fell on Tuesday after large deliveries of metal into London Metal Exchange (LME) warehouses eased supply concerns and poor economic data pointed to weakening demand. - more

      Analysts cut copper forecasts on worries about Chinese demand: Reuters poll - The LME cash price of nickel, which is mainly used to make stainless steel, is expected to average $12,738 a tonne in the fourth quarter, down 11% from Monday’s close. - more

      Chinese AD ruling on stainless steel products benefits development of stainless steel industry in China - The Ministry of Commerce of the People's Republic of China (MOFCOM) had announced to levy the anti-dumping duty tariff on imported stainless steel billets and stainless steel hot-rolled plates from the EU, Japan, South Korea and Indonesia started from July 23rd, 2019. - more

       New World Record High for Stainless Steel Output in 2019 - Global crude stainless steel production is predicted to reach a new record annual total of 53.1 million tonnes, in 2019. This would exceed the previous high figure, set last year, by more than 4.6 percent. - more

      Zim imports bill increases by US$88 million as exports decline 6 % - Zimbabwe's import bill has increased by US$88 million while at the same time exports have plunged 6% that Reserve Bank of Zimbabwe (RBZ) has reported. - more

      78 persons arrested for vandalising factory, assaulting cops - A total of 78 people have been arrested for allegedly vandalising an industrial unit in Ganjam district and also assaulting cops, police said on Wednesday. - 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 30
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Monday's trading session at $6.51/lb . Indicators at 6:20 am CST today show nickel trading around $.03/lb  lower. Stockpiles of nickel stored in LME licensed warehouses went unchanged on Monday and remain just under the 144,00 tonne level. Nickel  bounced yesterday, then set into a holding pattern just under the $6.50/lb level. It is slightly fading so far this morning. It appears Ravensthorpe is going to give it another try. It closed for a second time in October 2017, putting 270 people out of work, but is looking to fire operations bank up on hopes the traded price of nickel will stay higher. Ravensthorpe as built by BHP, who lost billions on the project, and was purchased by First Quantam in 2009. In its day, Ravensthorpe was classified as one of the mega mines that would rescue the world from a global deficit situation. Its timing was a little late however, and it opened after nickel prices had cratered as the deficit situation was relieved by other mega mines opening sooner. The news of its reopening is a double edged sword. When its back to full production, its output will help alleviate some of the deficit situation the world finds itself in again, but the cost of reopening the mine is a huge financial commitment by its owners, who obviously feel higher nickel prices are here to stay for awhile. The long term trend for nickel looks positive, while the daily trend can give one a headache. The second half of 2019 has started much the same as the first half started. Nickel bottomed out on December 31, 2018 and rose until  March 5th, when it lost much of those gains. This run began July 2nd, and time will tell how it turns out.
  • Average price of cash nickel so far this month - $6.07/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 - Lead prices slip on rising stockpiles, weak factory output - 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
  • Stocks Drop on Earnings; Brexit Concern Hits Pound: Markets Wrap - more

     Monday's market review - Copper gains before U.S.-China trade talks, data deluge - Copper prices rose on Monday before planned U.S.-China trade talks and a flood of economic data, while shrinking profits at Chinese industrial firms highlighted the headwinds facing demand in the top consuming country. - more

      Ravensthorpe nickel mine set to re-open a third time amid soaring demand for the metal - The owners of the mothballed Ravensthorpe nickel mine in Western Australia's south-east says it will move to re-open the site if surging demand for the metal continues. - more

      Courtesy AISI - In the week ending on July 27, 2019, domestic raw steel production was 1,884,000 net tons while the capability utilization rate was 80.9 percent. Production was 1,838,000 net tons in the week ending July 27, 2018 while the capability utilization then was 78.4 percent. The current week production represents a 2.5 percent increase from the same period in the previous year. Production for the week ending July 27, 2019 is up 0.6 percent from the previous week ending July 20, 2019 when production was 1,872,000 net tons and the rate of capability utilization was 80.4 percent. - more

      Palmer Qld Nickel collapse trial resumes - Clive Palmer is expected to return to court for the Queensland Nickel collapse trial after briefing an insolvency expert to testify in his defence. - more

      Billionaire’s €165 million superyacht Barbara spotted in Monaco - The 88.5-metre superyacht Barbara built by Dutch yard Oceanco in 2017, has been captured in the waters of Monaco last week.  - more

      From ‘they need it’ to ‘it’s going to destroy the land,’ people in Ely have a lot of thoughts about Twin Metals - At Ely’s annual Blueberry/Art Festival this weekend, the debate over copper-nickel mining near the Boundary Waters Canoe Area Wilderness (BWCA) was nearly as visible as the food, music and crafts for sale. - 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 29
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $6.40/lb . Indicators at 6:15 am CST today show nickel trading around $.02/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and Friday and start the week just under the 144,000 tonne level. Nickel ended the week after going no where on Friday, much like it has this morning. The steep drop on Thursday established $14,050/ tonne as a line of support, although it may be more of a psychological line  than a technical one.  For the week, nickel fell 2.50+%, but is still up 13.4% on the month and higher by over 31% year to date. When comparing the traded price to one year ago, LME nickel is slightly higher, up by nearly 4%. It appears the high point for nickel this month, and year thus far, is $15,115 hit on July 18th. Stainless steel prices have increased and downstream users are starting to feel the effects of the nickel bounce. While nickel is down from its high, it is wise to remember this bull came to be in June around the $11,600+/tonne area. We saw $12,000 tonne fall in mid June, $13,000/tonne the week of July 8, $14,000 tonne the week of July 15, and $15,000 tonne was hit later that week, when the bear finally lassoed the bull and pulled him back to the $14,000 tonne level. That is where we remain today, and its anyone's guess where the market will head. Fundamentals remain bullish, while macro economics somewhat less so. It's the final three days of the first month of the latter half of 2019. May it be a prosperous one for you.
  • Average price of cash nickel so far this month - $6.06/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 - Base metals mixed ahead of trade talks as pessimism limits gains - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • June Monthly Steel Factsheet - pdf here
  • Acerinox Q2 2019 Results Presentation - pdf here
  • Nickel Magazine July 2019 - download here
  • Jindal Stainless Post - pdf here
  • US Economic Update – July 2019 - pdf here

  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
  • Stainless Steel Council of China Special Steel Enterprises Association reports production of 300 series stainless rose by 19% for first half of 2019.
  • Stocks Are Mixed as Trade Talks, Fed Decision Loom: Markets Wrap - more

     Friday's market review - Lead gains for third week as supply outages erode stockpiles - Lead prices were set for a third weekly gain as production outages tightened supply of the metal used in batteries and drove stockpiles in London Metal Exchange (LME) warehouses to the lowest in 10 years. - more

       June 2019 crude steel production - World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 159.0 million tonnes (Mt) in June 2019, a 4.6% increase compared to June 2018. - more

      Taiwanese Yusco greatly hikes stainless steel prices for Aug - Yieh United Steel Corp. (Yusco), the largest integrated stainless steel mill in Southeast Asia, announced its stainless steel prices for August today (July 29th). - more

      Why London Metal Exchange warehouses thrive in the shadows: Andy Home - Investment fund Cobalt 27 boasts on its website that it holds 2,904.7 tonnes of physical cobalt “fully insured and stored in LME-certified warehouses in Europe and the U.S.” - more

     Indian stainless flat import probe and rationale behind it - On 3 July 2019, Indian government’s Directorate General of Trade Remedies (DGTR) initiated an anti-dumping investigation into stainless steel flat rolled imports from China, the US, the European Union, Japan, South Korea, Indonesia and nine other countries.  - more

      Taiwan determines to keep AD duties on stainless steel cold-rolled products from China & South Korea - According to the report, Taiwan has imposed a five-year anti-dumping duty on stainless steel cold-rolled products from China and South Korea since 2013. - more

      China's lateritic nickel ore market to see 60,000 mt glut in 2019 - This year is likely to see an oversupply of 60,000 mt of lateritic nickel ore domestically, with estimated production of high-grade nickel pig iron (NPI) at 510,000 mt and the overall imports of ore at 570,000 mt, SMM forecasts. The readings are based on nickel content. - more

      Indonesia: International consortium seeks nickel & cobalt - An international consortium of renowned e-mobility players plans to build a resource mining plant for lithium-ion batteries on the Indonesian island of Sulawesi. In concrete terms, the project reportedly involves nickel and cobalt. Tesla, CATL, LG Chem, Daimler and Volkswagen aim to participate in the consortium. - more

      FLNKS questions president's role in saving New Caledonia's nickel plant - New Caledonia's pro-independence FLNKS has questioned the role of the president Thierry Santa on the commission tasked with saving the SLN nickel plant. - more

      Average wage at ferrochrome smelter will be $108,000 (first site renderings) - Average wage at the Noront Resources Ltd. ferrochrome processing facility in Sault Ste. Marie will be $108,000, Stephen Flewelling, the company's chief development officer told a Sault Ste. Marie audience on Friday. - more

      What you need to know about Minnesota's PolyMet and Twin Metals mine projects - If you live in Minnesota, you've probably been hearing about the planned PolyMet and Twin Metals mines on the Iron Range. - more

  • Minnesota lawmakers call for suspension of all state permits for PolyMet copper-nickel mine - more
      Clive Palmer paid $1 for Queensland Nickel, court told - Administrator tells court the refinery was worth the same amount seven years later, and was losing $1m a week - more
  • Palmer takes ill as key witness in Queensland Nickel trial bails - 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 25
  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Thursday's trading session at $6.60/lb . Indicators at 6:20 am CST today show nickel trading around $.24/lb  lower. Stockpiles of nickel stored in LME licensed warehouses rose for only the second time this month and started today's session at 145,500 tonnes. Cancelled warrants remain in the 30% range. The nickel market has entered the see-saw part of its latest run, where bulls and bears play tog of war with the price. If the bears win, the bull run is over, and if the bulls win, we have higher prices to come. Yesterday we got the bounce of almost $400/tonne, that was after a $450 tonne drop on Monday. Today, we are down around $550/tonne and it is only lunch time in England. We have been getting e-mail's from readers, some bullish with reasons why the higher trading price is justified, and others who feel this bullish run is unjustified. The plain truth is both sides make good points and both sides are right. The market is supposed to be a source for establishing a far price based on market fundamentals and economic news. You can decide whether that applies or not but this latest bullish run began June 25th. There was no magical trigger that started it, no huge decrease in stockpiles, no mine suddenly closed due for whatever reason. Our best guess on why someone thought the market was  getting ready to turn was the G-20 meeting scheduled to start that weekend. A lot of people were hoping tis stupid trade war would end and  there were a very few were hoping for a surprise announcement. Well the surprise came, but it was an announcement the two would only start talking again. Not exactly the news the market wanted to hear. And if this was the lone trigger that started the run, the jump was so extreme that it began to feed on itself. Analysts grasped for 'reasons' and events happening were used as excuses to feed the rally. It wasn't until the market reached $15,000/tonne, that the computers decided the market has risen too fast, too quickly, and it was time to take some of the money that the funds had invested late. Now fund managers are nervous, as the market bounces up and down, and depending on whether they decide to stick it out on long term hopes, or bail to take their sort their profits, could decide whether this rally end or lives on. This is our last update for the week, so we wish you a safe and relaxing weekend and invite you back next week.
  • Average price of cash nickel so far this month - $6.02/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 lead rises amid concerns on supply shortage - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • U.S. Imports of Stainless Steel Mill Products - 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
  • Stocks Rise With Bonds Ahead of ECB, More Earnings: Markets Wrap - more

     Thursday's market review - Copper boosted by hopes for end to U.S.-China trade war - Copper prices rose on Wednesday as news that U.S. officials would travel to China next week to resume trade talks helped to boost sentiment in industrial metals markets under pressure from concerns over growth and demand. - more

      Mining and metals group Eramet hopes for better second-half after weak prices hit first-half results - Weak prices hit the first half results of metals and mining company Eramet, although Eramet said it expected its second-half results to show an improvement. - more

      LME Prepares Rule That Would Reveal Huge Private Metal Stockpiles - The London Metal Exchange is preparing a new rule designed to reveal the huge stockpiles of metal held in private storage, shining a light on one of the industry’s most opaque areas for the first time. - more

      China's lateritic nickel ore market to see 60,000 mt glut in 2019 – This year is likely to see an oversupply of 60,000 mt of lateritic nickel ore domestically, with estimated production of high-grade nickel pig iron (NPI) at 510,000 mt and the overall imports of ore at 570,000 mt, SMM forecasts. The readings are based on nickel content. - more

      Cobalt, nickel, other battery metals face supply crunch by 2020s — report - Growing global demand for batteries that power electric vehicles (EVs) and high tech devices is set to cause a supply crunch of lithium, cobalt and nickel by the mid-2020s, global consultancy Wood Mackenzie predicts. - more

      SLN future hinges on lower New Caledonia power price - The survival of New Caledonia's SLN nickel company is being made conditional on the company securing lower electricity prices for its smelter in Noumea. - more

      Japan's Purchase Price of HC FeCr in Jul-Sept Down by US Cents 16 = US Cents 112 per lb, which is affected by weak demand = Japanese stainless steel mills have continued negotiation with multiple overseas ferro-chrome producers to fix the purchase price of high-carbon ferro-chrome for the period from July to September in 2019 and have this time come to an agreement on the price to be down by US Cents 16 from the prior period. - more

       Mining Executives Split on Who Bears Burden of Climate Change - The mining industry is starting to split on who bears responsibility for all the carbon emissions caused by smelting iron ore into steel. - more

       'I think it's premature': Palmer camp cops fresh rebuke in court - Clive Palmer and his legal team have been given another dressing down in court, this time over an expert witness who has gone to Brazil. - 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 24

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $6.43/lb . Indicators at 6:20 am CST today show nickel trading around $.12//b  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Tuesday and started today just under the 145,100 tonne level. If you like bungee cord rides, then today's market reaction will give you a thrill. After dropping sharply on Monday, and some more on Tuesday, we are getting a large bounce this morning.  $6.43/lb appears to be support for now, and resistance is up around the $15,000/tonne mark. Considering the Euro is getting hammered by the Dollar, this movement is stronger than it might appear. We notch yesterday's slight loss up to the drop in the Euro, and if what is going on out here in the world really matters to trading computers anymore, then nickel could be getting a bounce from news that US officials will fly to China to negotiate future face to face negotiations. Yes, you heard that right. Not negotiating an end to this stupid trade war - to negotiate how and when to meet in the future. Hopefully, something serious is going on by phone and e-mail behind the scenes. Been a good news week.
  • Average price of cash nickel so far this month - $5.99/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 - Base metals rise on progress in U.S.-China trade talks - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • U.S. Imports of Stainless Steel Mill Products - 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 ferro nickel imports rose over 104% in June, when compared to June 2018 figures. Nickel ore imports were down less than 1% for same period.
  • ATI Conference Call - more
  • Stocks Fall on Weak Data, Tech Probe; Bonds Gain: Markets Wrap - more

     Tuesday's market review - Nickel clings to one-year high, but rally seen as excessive - Nickel slipped on Tuesday and analysts said prices that were still near one-year highs for the metal used to make stainless steel were not supported by most fundamentals. - more

      Troubled Philippine nickel plant muddies Sumitomo Metal's outlook - Repeated operational problems at Sumitomo Metal Mining's nickel smelting site in the Philippines are threatening the company's reputation as a cost-competitive producer, with its tanking stock prices reflecting investor worries. - more

      Boom possible: Demand for electric vehicles bodes well for nickel ... and for Greater Sudbury - While nickel analysts expect the price of nickel to dip again despite the impressive gains it has made in recent weeks, demand for the metal is bright thanks to the increasing demand for electric vehicles. - more

      Taiwanese upstream stainless steel mills expected to raise prices again due to rising nickel prices - The price of nickel on the London Metal Exchange (LME) rose sharply recently, reaching US$15,115/ton last week, which hit the new high since June 2018. - more

      ‘Investment in nickel production needs to happen now’ - Rather than helping electric vehicle take-up by driving down costs to parity with traditional engines, the low price of nickel at the moment is deterring investors and could cause a supply shortage that holds back electro mobility in a few years’ time. - more

      Alloy Steel: Everything you need to know about alloy steels and their role in building and construction industry - Steel is among the most popular materials used in the construction industry.  - more

      Palmer QN trial team attacks expert report - Clive Palmer's legal team at the Queensland Nickel collapse trial has attempted to blunt a cutting expert report valuing the billionaire businessman's Galilee Basin mining project as worthless. - 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 23

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Monday's trading session at $6.49/lb . Indicators at 6:20 am CST today show nickel trading around $.03/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Monday and started today just under the 146,700 tonne level.  It appears, at least for now, the market has established $6.50/lb as support, after a large drop. Technical signals are mixed and offer little guidance. Some interesting reading linked below.
  • Average price of cash nickel so far this month - $5.96/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 - LME base metals sea-sawed ahead of key policy meetings - 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. Index Futures Rise as Debt Deal Lifts Mood: Markets Wrap - more
  • Positive Indian Ocean Dipole prevails; ENSO neutral - more

     Monday's market review - Nickel slides from peak amid profit-taking - Nickel prices fell overnight as speculators locked in profits by liquidating bullish positions after the market surged to levels not supported by current supply-demand fundamentals. - more

      Nickel’s Spike Isn’t Over Yet for Citi as LME Stockpiles Dwindle - One of nickel’s most powerful rallies this decade has room to run at least in the short-term, according to Citigroup Inc., which says an unusual trading structure on the London Metal Exchange -- specifically tight supply showing up on forward contracts -- is fueling gains. - pdf here  (this article is from last week but contains something worth noting - there is a comment made in this article that I take serious issue with - "That view is bolstered, he said, by the fact that the LME appears to be leading the Shanghai Futures Exchange, rather than the other way around." - Having followed nickel, and nickel only, daily for over 10 years, I can say that the Shanghai Metals Market nearly 'always' follows the LME, both in bear and bull markets. This is something I have noted before.)

      Guatemala court upholds request to suspend work at huge nickel mine - Campaigners say full consultation was not carried out before 2014 reopening of European-owned Fenix site - more

      China to impose anti-dumping tax on stainless steel from Indonesia, EU, Japan, South Korea - China said on Monday it will impose anti-dumping duties on some stainless steel products imported from the European Union, Japan, South Korea and Indonesia. - more

      73% Of xEV Battery Nickel Deployment Falls On China, U.S. & Japan - Currently, the long-range BEVs use lithium-ion cells mostly with nickel-based cathodes. - more

     Palmer search for expert witness hits snag - Clive Palmer's tardy efforts to find a replacement insolvency expert to testify at the Queensland Nickel trial has earned another rebuke from the judge. - more

     The big refinery in the middle of a Welsh village that has kept a community alive for a century - People have met their future partners there and almost everyone in Clydach in the Swansea Valley has some kind of link with the refinery they call 'The Mond' - more

      Courtesy AISI - In the week ending on July 20, 2019, domestic raw steel production was 1,872,000 net tons while the capability utilization rate was 80.4 percent. Production was 1,838,000 net tons in the week ending July 20, 2018 while the capability utilization then was 78.4 percent. The current week production represents a 0.3 percent increase from the same period in the previous year. Production for the week ending July 20, 2019 is up 1.1 percent from the previous week ending July 13, 2019 when production was 1,867,000 net tons and the rate of capability utilization was 80.2 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 22


  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Friday's trading session at $6.69/lb . Indicators at 6:20 am CST today show nickel trading around $.14/lb lower. Stockpiles of nickel stored in LME licensed warehouses fell on Thursday and Friday and start the week just over the 147,600 tonne level.  Nickel finally hit some serious resistance last week, when it was unable to hold above the $15,000 tonne level on both Thursday and Friday. The traded price is still back tracking today, but it is too early to say the bull has been corralled. Anyone who has followed the market the last few weeks knows what volatility means, and that continues, just on the correction side today. The market has risen too fast and needs to take a breath if it is too maintain its health. This kind of extreme price change has a negative affect on nickel users, as those who can, will now hold off and try to 'time' their large purchase to coincide with the dips. Next week or next month, they will know when the best time to buy 'was', but today, and tomorrow - it's a crap shoot. A whole lot of money has flowed into nickel over the past few weeks and if they start to suspect this price ascent was a one run wonder, we could see them change their bets to shorts. On the other hand, the highest nickel has traded at since January 2015, was  on January 5th, 2018, when it traded for $15,292.50. If this bullish run is able to climb above that level, and it got close last week, then we are trading in territory we haven't seen for 5 years (2014). That in itself, is probably spooking some in the market. Lot of news below but he one that interests us the most is the one from Reuters about Tsingshan. We have heard the estimates about Chinese stainless steel production being up around 10% this year, but nothing official. This article starts to confirm those estimates with some cold facts about their purchasing, lending evidence. With EV consumption growing, news that stainless steel production is way up anywhere in the market, especially nickel hungry China, is going to lend itself to higher nickel prices. Lot of stats out there but the one single number that everyone is watching are the LME stockpile numbers.  On this day last year LME showed 260,718 tonnes.  One year before that the total stood at 375,240 tonnes. Today we are 147,600+ tones. That is a very dangerous pattern the industry finds itself in. Where it will stand on July 22, 2020 offers a rather frightening scenario  based on the last few years. No one know where the market will go tomorrow, or why the market does what it does on a daily basis. The technicals for nickel have been bullish for a long time, so why the large trading houses decided a few weeks ago was time to make a run for the border, remains a mystery. But for the long haul, the forecasted outlook lends itself to higher prices for the future. With that cheery forecast, we hope you have a great week.
  • Average price of cash nickel so far this month - $5.92/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 - Nickel falls from 13-month high as buying spree pauses - 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
  • Selby resigns as RNC CEO - more
  • Why nickel stocks are up - more
  • U.S. Futures, Treasuries Edge Higher; Oil Advances: Markets Wrap - more

     Friday's market review - Nickel's spectacular rally hits buffers, but copper soars - Nickel prices fell on Friday as a two-week explosion of buying which helped push the metal used in stainless steel to its highest in more than a year appeared to run out of steam. - more

      New Caledonia leaders worried about SLN - New Caledonian political leaders have raised the alarm over the loss-making SLN nickel company which is the biggest private sector employer. - more

      Exclusive: China's Tsingshan roils nickel market with buying spree - Chinese firm Tsingshan Holding Group has been buying large quantities of stainless steel ingredient nickel on the London Metal Exchange (LME) to supplement its own output, two sources familiar with the matter said. - more

      Nickel — Mining's Sprite - The price of nickel has improved in H1 2019 after a dire second half of 2018, but the metal is not out of the woods yet, and its prospects are increasingly being split between class-1 and class-2 metal. - more

      Indonesia will enforce 2022 ban on raw mineral ore exports: official - A senior Indonesian mining ministry official pledged on Thursday that authorities would enforce a ban on the export of raw ore exports by 2022 to make miners process minerals in the country.  - more

      Market Trend of Import of Ferroalloy as of 12 July 2019 = China National Day may affect shipment and production because of 70th anniversary of National Foundation = This year, China will reach 70th anniversary of National Foundation, and China National Day (1st to 7th of October) is forecast to become a large-scale event. - more

      Suppliers seek stainless steel scrap sales to Indonesia - More stainless steel scrap suppliers are targeting sales into Indonesia, where consumption could rise as the Tsingshan-owned mill at Sulawesi ramps up production. - more

       Nickel miners plant 5.3 million trees in Caraga and Palawan - The Philippine Nickel Industry Association, through its seven member-companies, has once again boosted greening efforts as part of ongoing rehabilitation and reforestation in their respective mining areas. - more

      Twin Metals to use dry stack tailings at copper-nickel mine - Twin Metals Minnesota is set to use a more environmentally friendly dry stack method for storage of leftover rock from its planned underground copper-nickel mine.  - more

       Adamas: China, US and Japan drove 73% of electrified vehicle battery nickel deployment in May 2019 - In May 2019, 73% of all nickel metal equivalent (NME) deployed in passenger electrified vehicle batteries globally went into vehicles sold in China, the US and Japan, collectively, according to Adamas Intelligence’s latest ‘EV Battery Nickel Monthly’ report. - more

      Palmer's former Queensland Nickel workers facing shock tax bill - Former Queensland Nickel workers who claimed unpaid entitlements from a $7 million fund Clive Palmer established before the federal election are now facing the prospect of hefty tax bills. - 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 18

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Wednesday's trading session at $6.55/lb . Indicators at 6:25 am CST today show nickel trading around $.15/lb  higher. Stockpiles of nickel stored in LME licensed warehouses fell on Wednesday and started today just over the 148,200 tonne level. While other base metals reacted to another warning from President Trump about more tariff's on China, nickel continued its bullish run. This morning, after a warning from a Reuters analyst who used to work at the London Metal Exchange, that the whole Indonesia future nickel ban topic is unfounded, appears to have shaken the market - no, sorry, our mistake. Today, in fact, the bull run continues unchecked, as more and more money pours in as investors look for their piece of this sudden bonanza.  Still looking for last years high as offering some sort of resistance, but at this point, nothing appears to be in the way of this bull. Our last update of the week, so enjoy your weekend and we invite you back next week as we chase the bull.
  • Average price of cash nickel so far this month - $5.82/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 - Nickel strikes 1-yr highs as rally picks up speed - 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
  • Global Economy Threats Prompt Cautious G-7 Pledge on Fiscal Aid - more
  • Stocks Drop on Earnings, Trade Angst; Dollar Slips: Markets Wrap - more

     Wednesday's market review - Copper tumbles from two-week peak as Trump renews China tariff threat - Copper retreated from a two-week high on Wednesday after U.S. President Donald Trump threatened to impose further tariffs on China, a move which could dent demand for metals. - more

      Nickel jumps but fear of Indonesia export ban is unfounded: Andy Home - Nickel is enlivening an otherwise torpid summer for the base metals complex.  - more

       WBMS Press Release July 2019 - The nickel market was in deficit during January to May 2019 with apparent demand exceeding production by 57.3 kt. In the whole of 2018 the calculated deficit was 91.3 kt. - 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 17

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Tuesday's trading session at $6.39/lb . Indicators at 6:20 am CST today show nickel trading around $.08/lb  . Nickel is now trading in territory it has not in over a year. Analysts can argue about what started this bull run, but the $14,000/tonne level fell less than a week after the $13,000 tonne level did. Users look for answers in times like this, and frankly, there are none to be had. The bull run is now feeding on itself, as more and more investment dollars pour in, as investors look to get their piece of the action. These are uncomfortable times for downstream users [nice way of phrasing that, eh?]. These are days when manufacturers give quotes with a warning they might only last as long as the phone call does.  Next major resistance, if we can call it that, would be the 2018 high of $6.94/lb. That rally had started in May 2017, on future production fears and potential shortages based on EV projections - a rally that gave out a year later, on May 1, 2018. Nothing actually changed, except maybe the US and China not playing well in the sandbox; something that really has yet to change back.  It is worth noting that on July 16th of last year, LME nickel stockpiles recorded 263,298 tonnes. Stockpiles fell yesterday and started today just under the 148,400 tonne level. They have fallen by not quite a half, but for anyone following the market over a long period of time (this site is over 10 years old), it is VERY concerning. A reminder for those new to the industry. On May 16, 207, cash nickel traded for $24.58/lb. Can it get worse than that? Well not many people were talking about EV back then, so yes .... yes it could. Let's hope it doesn't. Cancelled warrants fell under the 30% range yesterday, for the first time since January. This is a number tat used to mean something, but far less today.
  • Average price of cash nickel so far this month - $5.77/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 - Zinc reverses gains amid narrowing supply deficit - more
  • Reuters Daily Inside Metals - pdf here  
  • SMM Evening Comments - more
  • U.S. Imports of Stainless Steel Mill Products - 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
  • Stocks Nudge Higher Amid Earnings; Dollar Steady: Markets Wrap - more

     Tuesday's market review - Nickel jumps to one-year peak on industrial and fund buying - Nickel prices surged to their highest in a year on Tuesday, propelled by buying from speculators and industrial consumers worried about potential future shortages. - more

      Global nickel prices surging - Nickel prices surged to their highest in a year on Tuesday, propelled by buying from speculators and industrial consumers worried about potential future shortages. - more

      Resilient nickel rallies through macro noise - “The macro is trumping the micro” has been a near-constant refrain in metal markets this year as concerns about the impact of the US-China trade spat on global growth have outweighed robust supply and demand fundamentals. However, one industrial metal is managing to buck the trend — nickel. - more

      Tsingshan Indonesia increases stainless steel prices again - The London Metal Exchange's (LME) nickel price increased sharply these days. Stimulated by the high nickel price, global stainless steel giant Tsingshan Indonesia had announced to increase its stainless steel export price by US$30/ton on July 16th.  - more

      Special Steel Demand Forecast in Jul-Sept 2019 = Remains almost unchanged from year-earlier period = On July 9, the Ministry of Economy, Trade and Industry made clear its demand forecast about special steel products in the period from July to September in 2019 in the lecture made in the Special Steel Association of JAPAN. - more

      Hitura nickel mine cleanup effort to cost state €16m - Finnish authorities have earmarked 16 million euros towards the cleanup and closure of a nickel mine that has been sitting dormant since 2015 for lack of a buyer. - more

      Clive Palmer pays $135m in nickel cash to his wife - Clive Palmer's Queensland Nickel made a string of "extraordinary transactions" only days before it collapsed owing debts of more than $200 million, a court was told. - 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 16

  Daily Nickel/Stainless Steel Briefing (7:00 AM CST is 12 PM in London)
  • Nickel closed Monday's trading session at $6.20/lb . Indicators at 6:25 am CST today show nickel trading around $.10/lb higher. Stockpiles of nickel stored in LME licensed warehouses fell below the 150,000 tonne level on Monday, and now total just over the 149,300 tonne level. Nickel ripped thru major reistance this morning and now is trading at a 2019 high. Reuters is now convinced the reason for the run is the news out of Indonesia about an export ban possible for 2022. If you believe that, we have some ocean front property in Kansas to sell you The bull continues to run wild and no attempt to lasso him has proved effective.   
  • Average price of cash nickel so far this month - $5.72/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 - Nickel surges to 11-mth high on funds buying - 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., Chinese officials to discuss trade in phone call this week -Mnuchin -  more
  • Stocks Fluctuate as Big Banks Report; Dollar Gains: Markets Wrap - more

     Monday's market review - Copper hits two-week high; gains capped by demand doubts - Copper prices touched two-week highs on Monday as better than expected industrial output and investment data from top consumer China boosted sentiment, though gains were capped by the protracted U.S.-China trade dispute. - more

     The Stainless Steel Industry Struggles Amid Global Protectionism - The world's stainless steel (SST) industry has been struggling for survival amid anti-dumping (AD) and safeguard measures being implemented across the globe. - more

      India Investigates AD Duty on SUS Rolled Products from 15 Countries = HS Codes are 7219 and 7220 = Last week, the Ministry of Commerce and Industry of India announced that it would start to investigate the imposition of the antidumping duty (AD duty) on flat rolled products of stainless steel imported from a total of 15 countries such as Japan, China, South Korea, Taiwan, Indonesia, EU, USA, Thailand, South Africa, UAE, Hong Kong, Singapore, Mexico, Vietnam and Malaysia (As the number of member countries of the EU is 28, a total of 42 countries are indirectly intended). - more

      Courtesy AISI - In the week ending on July 13, 2019, domestic raw steel production was 1,867,000 net tons while the capability utilization rate was 80.2 percent. Production was 1,838,000 net tons in the week ending July 13, 2018 while the capability utilization then was 78.4 percent. The current week production represents an 1.6 percent increase from the same period in the previous year. Production for the week ending July 13, 2019 is up 1.1 percent from the previous week ending July 6, 2019 when production was 1,847,000 net tons and the rate of capability utilization was 79.4 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 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


System crash took us offline until July 8

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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